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Gas prices hit new highs in the Valley

3 weeks 4 days 19 hours ago Saturday, June 04 2022 Jun 4, 2022 June 04, 2022 1:26 PM June 04, 2022 in News - Local

The state average for fuel is $4.39 per gallon, but some gas stations in the Valley are charging $4.49 per gallon.

Prices at some of these stores jumped 20 cents since Friday morning - and nearly 50 cents since Tuesday

At this rate, 10 gallons of gas could cost $45, and a local economist expects prices to continue to rise.

“So the question is, do we expect this to increase somewhat, and I think the short answer is probably yes, we should expect this to increase because of added demand for driving,” UTRGV economics professor Salvador Contreras said. “Americans are in peak driving mode this summer, and they're going to hit the roads. As the demand for gas increases, so does the price - this happens every year.”

Channel 5 News has been watching gas prices across the Valley.

The lowest price that was seen as $4.19 per gallon at a gas station near the McAllen International Airport.

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