Expert weighs in on fluctuating gas prices
The average price for regular gas has dropped about 16 cents compared to a few weeks ago when it was more than $4 a gallon.
Bruce Bullock, the director of the Maguire Energy Institute at Southern Methodist University, says while there’s a drop in gas prices for the time being, he believes they are likely going to fluctuate for a while.
“I don't see a lot of long term relief really probably for the next year,” Bullock said.
Bullock says the current global geopolitical situation between Asia, Ukraine and Russia are the primary drivers behind gas prices.
“Right now, it’s going down because China has another variant of COVID,” Bullock said. “They’re locking down again and it’s putting a downward trend on oil prices.”
According to Triple A, the average price for regular gas in Hidalgo County is $3.83, about a 17 cent difference compared to the highest recorded average price just three weeks ago.
With Easter and Memorial Day in the near future, Bullock says if you're planning to hit the road, it’s best to prepare your pockets now.
“We’ll probably see a little bump up then, too, regardless as to what is going on overseas,” Bullock said.
If you’re looking for a few ways to save on gas, remember to try and fill up at a gas station away from the expressway. You can also download gas price tracking apps like Gas Buddy, Gas Guru and Waze, which help find some of the lowest prices in the area.
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