July 4th Gasoline Prices not Taking a Holiday #Hounews

Originally posted on News 92 FM | Official Site for Houston News, Traffic, Weather, Breaking News:

China Cuts Retail Prices Of Gasoline And Diesel

Just in time for the holiday, turmoil in the Middle East is prodding price points higher. “I think the calculus changed when Iraq moved to the front page with the fall of Mosul,” says GasBuddy Chief Oil Analyst, Tom Kloza.

Tom Kloza - Headshot

Tom Kloza, Chief Oil Analyst, GasBuddy.com Photo Credit: GasBuddy.com

North American oil prices have risen by just a few pennies since the Iraqi violence put a question mark around the future stability of supply.
But Kloza says it’s not going to be as bad as in past years. “Generally, we’re going to be paying anywhere from 5- to 20-cents less,” he says, but “it is actually going to be the highest priced July 4th Holiday since 2008.”

The national average this week is $3.68–20-cents higher than last year. In Houston, the average pump price is $3.49–up 16-cents from last year.

“Even though Iraq contributes less than 3-million barrels of…

View original 338 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s