Houston gas prices predicted to hit new high by Memorial Day

Gas prices have been steadily going up in Houston since the New Year, but according to Gasbuddy.com, the gasoline peak is still months away for drivers.

The site, which monitors local, state and national gas prices, released its 2012 forecast, and the report paints an unpleasant picture for Houston drivers — gas prices in the $3.95 to $4.25 range by Memorial Day.

“Motorist who drive a SUV may want to consider calling their banking institution and obtain a credit limit increase so they can afford this summer’s fuel expenses,” Patrick DeHaan, senior petroleum analyst, said.

Average unleaded gasoline prices edged up a penny this week, but prices have been rising since the New Year. Houston drivers have seen a 15-cent rise in the first three weeks of 2012.

Houston Historical Gas Price Charts Provided by GasBuddy.com

According to GasBuddy, the trend should continue through May due to three refineries shutting down in the northeast, rising tensions with Iran and record gasoline imports. The report also mentioned a potential impact of the Keystone XL permit.

“The proposed new pipeline has the potential to shake up prices in either direction,” the report stated.

Like other 2012 forecast, GasBuddy predicts national gasoline prices to rise during the spring before peaking around the Memorial Day weekend. After that, gas prices should slowly decline.

Houston prices should fall in the $3.95 to $4.25 range for the Memorial Day holiday, which would mark the highest price for the holiday weekend.

However, many other cities will have much higher prices. Here is a run down:

Atlanta: $4.25 – $4.60

Boston: $4.10 – $4.35

Charlotte $4.00 – $4.35

Chicago: $4.60 – $4.95

Columbus: $4.20 – $4.55

Dallas: $3.80 – $4.15

Denver: $3.85 – $4.05

Detroit: $4.15 – $4.50

Houston: $3.95 – $4.25

Indianapolis: $3.90 – $4.25

Jacksonville: $3.95 – $4.30

Los Angeles: $4.45 – $4.70

Memphis: $3.95 – $4.30

Miami: $4.05 – $4.40

Minneapolis: $4.15 – $4.45

New York City: $4.30 – $4.55

Philadelphia: $4.15 – $4.40

Phoenix: $3.90 – $4.20

San Francisco: $4.50 – $4.85

Seattle: $4.40 -$4.65

Lowest Gas Prices in Houston

Houston Gas Prices provided by GasBuddy.com

Gasoline Forecast Media

52 Comments

  1. luckyone

    The Democrats are planning to take the profits of the Oil Companies. Thank goodness they would never get this through the House. http://tinyurl.com/76jwl5q

    #1
  2. mike

    $4.25??? Wow, looks like were about to get raped worse than ever! Two years ago I moved from Kingwood to the Galleria area after two years of driving it everyday, I really hate living in the city, but let me tell you… living a BLOCK away from work is pretty amazing for times like this.

    #2
  3. Alex

    A pipeline sounds nice right about now…….

    #3
  4. Jackie

    Same thing every year. Nothing new out there of any interest?

    #4
  5. Art Vandeley

    The Middle East and South America has Obama over a barrel and will continue to dictate our energy costs until we have REAL “hope and change” in Washington.
    Energy independence for America is a foreign concept to the progressive liberals currently running our government. Are they clueless or is it their one world economey agenda? Hopefully after November it will be a moot issue and our country can get back on track.

    #5
  6. Bob

    Obama, could have fixed this issue with the Keystone pipeline.

    #6
  7. texdjd

    This is what happens when a buffoon like Odumma gets elected. He has done everything in his power to see that energy prices skyrocket.
    Fuel prices have doubled under this morons watch.
    Thank an idiot liberal the next time you are filling up your tank.

    #7
  8. J Snad

    Will this hurt the pres in November or will the prices suddenly drop right before the election.

    #8
  9. THANK YOU OBAMA, MAY I HAVE ANOTHER!

    #9
  10. Lamer

    A pipeline sounds nice right about now…….

    A pipeline that wouldn’t begin opperation until 2014 if construction started today? That’s like the “drill here drill now” folks thinking that if we allow drilling in ANWR tomorrow, oil will be flowing on Sunday.

    #10
  11. TheSouthWillRiseAgain

    Houston shows 3.95 to 4.25 per gallon. I just paid 3.49 for premium. Not too bad at this price. I dread any price over 4 per gal

    #11
  12. Jeff S

    Y’all do realize that any effects from the Keystone XL pipeline would take a couple of years to hit, right? You know, they have to build it and all that.

    Also, the price of oil right now is not really connected with supply and demand. There is easily a $10-15/bbl premium on it placed by speculators.

    And finally… Its amazing when the price of oil was $130/bbl, the price of gas was $3.50. Now that the price of oil is $105/bbl… the price of gas is $3.50.

    #12
  13. TheSouthWillRiseAgain

    Wednesday, obama rejected the pipeline from Canada and now Canada is saying they may sell the oil to China. Brilliant move obama. Thursday, obama’s new campaign tv ad touts the need for energy independence and how he is working towards that goal. Everyone says, Say What”! After declining the generous gift from Canada. One and done is right! If ever he was given an opportunity to get re-elected; that was it! Now, its gone. Good. Turning down up to 20 thousand jobs and 100 yrs of oil; was the dumest thing that I have ever seen by any politician.

    #13
  14. LiveSimply

    “Motorist who drive a SUV may want to consider calling their banking institution and obtain a credit limit increase so they can afford this summer’s fuel expenses,” Patrick DeHaan, senior petroleum analyst, said.
    ~~~~~~~~~~~~~~~~~~
    Give me a BREAK! Talk about the most assinine comments of all times! Hey Patrick! Guess what? Those of us that drive SUVs have been through this before! Like in 2008 when the last Presidential elections were being held. If I can’t afford the price of gasoline – then I’d be driving a death trap small car! Its not a toss up for me! “Spend more money at the pump” or “Leave my family with no means of support”? I’ll take “Spend more money at the pump” Alex for security reasons and peace of mind!

    #14
  15. Tricia

    Thanks to our fearless leader Obama prices are going to get much worse. He wants the USA to emulate Europe and they pay much higher prices. The Keystone pipeline not only would have provided jobs, taxes collected, Independence from buying oil from our “foreign buddies” but also would keep the price of fuel for the USA down.

    #15
  16. This is why we cancelled our annual trip to Destin where we usually spend a week and about $3000 dollars in the area. Can’t stand these crooked analyst controlling the market. Oil and Gas is a big scam.

    #16
  17. w00t

    Time to move out of the McMansion and in closer to your jobs.

    #17
  18. mike

    Since the US GOV (mafia crooks) repealed the law that banned the export of refined gasoline the price has “exploded”.

    The US if awash with excess gasoline production and if the simply re-banned that export agreement. gasoline would be no more than $1.00 a gallon. But selling the refined gas all over the world creates artificial price inflation for us at home. A frikin pipeline will only increase the cost of gas..

    The US gov needs to stop governing for corporations and return to governing for the people.

    google search “US exports gasoline”, if you want to know the truth of the matter

    #18
  19. Eric

    Get a clue, Obama Haters!!! The price of oil is determined by the world price and we have little impact!! All of the oil that is extracted from America is sold on the Chicago Mercantile Exchange for the same price! Any more oil extracted and refined is sold overseas!!! Any more oil extracted does not reduce the price, only increases profit for oil companies. We are selling Gasoline to OTHER countries!!! Please check out what I say, don’t be blind by your hatred for Obama!!

    #19
  20. Marko

    So what they’re saying is that peak gas prices are still a few months away? Like, summertime? Wow, stop the presses! Who’da thunkit?

    #20
  21. richeyrich

    We can thank our communist Prez Nobama for this since he said NO to the Canadian pipeline.

    #21
  22. disheveled1

    Get ready for everything you buy to skyrocket.Is everyone happy?

    #22
  23. Firmgrip

    This article is probably true enough. That alone begs the point as to why Americans do not demand the conversion to CNG to power their vehicles. It is not only abundant and we would be self sufficient, but it is much cleaner burning. Nah! That would be too logical and there isn’t much common sense left in the world. If you thrive on turmoil, this (as Iran is portrayed and what your government wants you to think) is just what you will get.

    #23
  24. Dan X. McGraw

    Richeyrich, I just asked an analyst about the impact of Keystone XL on gas prices, and the answer was it wouldn’t have an impact. Most analysts have pointed to the refineries and Iran tensions as the bigger concerns for higher prices.

    #24
  25. flavio

    “Gift from Canada”? People, please wake up.

    The pipeline will be built if it makes economic sense. If it is ever built, the oil flowing through it will not get here for another 4-5 years, so the price we pay at the pump this summer will not be affected by it.

    Ultimately, the price of oil is not set by individual countries, it is set by the “free market”. Whether we get the oil from Canada (which we already largely do, as Canada is our largest supplier), from Venezuela, Nigeria or Saudi Arabia, the price we pay for a barrel of oil is exactly the same. And the price we pay at the pump is a consequence of that.

    #25
  26. It may take two years for the pipe line but how about the possibility of the hiring of 35,000 workers. The restaurant , inns , and all the other businesses that will have to hire to keep up with the increase.

    #26
  27. txloanguy

    These folks that say Keystone is years away are small thinkers. Why is oil and gas going higher now? Iran’s threat. What has Iran done to stop the oil flow? NOTHING! It’s all expectations. Oil shoots up if Nigeria has a riot, or some tanker sinks. No real disruption. So if the market expects huge volumes of oil to come, prices will head lower. But when you have a President who is clearly anti-oil and anti pipeline, and the traders know he will block exploration and drilling every chance he gets, prices go up. An He has STATED he wants energy prices to go high. And somebody still supports him.

    #27
  28. TheRealRick

    Thank goodness for our friends in the Middle East who have all of the oil we need. $5.00 a gallon is not so bad and we will be glad to pay once the war starts and it’s about $15.00 a gallon, for those who are still alive that is.

    #28
  29. retiredff

    A sure kiss of death to Obama in November. Bring it on !!!!!!!

    #29
  30. ss396

    Somewhere in Hawaii, the golf course or a basketball court or karaoke bar, Obama is smiling.

    He didn’t WANT any pipeline creating thousands of jobs- he wants as many people dependent on the gubmint as possible.

    He also WANTS gas prices to rise so he can force everyone, like sardines, into Smart cars and the like.

    Hope and Change is awesome, ain’t it?

    #30
  31. YEAH YOU!

    The price of oil is determined on a Global market.. and for that matter the price of Gas is not 100% directly linked to the price of oil. The Keystone pipeline would do absolutely nothing to affect the price of gas..at 500,000 barrels per day it is about 3.8% of the US daily oil consumption. So if the price of oil was the only determining factor to the price of gas (which it isn’t.. gas goes up when oil does not and falls sometimes when oil goes up) then at most the 500,000 pipeline MIGHT save us 16cents.. But considering there has been no new refineries built in this country since the 70′s that tells you something.. The oil companies could produce more gas if they wanted to .. What is their motivation? Flood the market and drive the price down so they can work harder to produce more fuel to sell at a cheaper price?

    People blaming this on Keystone are complete idiots

    #31
  32. Trail_Tramp

    Keystone XL might not have an impact on the price of oil, but it would have an impact of the AVAILABILITY of oil, if things go hot in Iran.

    #32
  33. Peter

    Bob, I’m no fan of Obama and believe his decision on the pipeline was a STUPID political play; however, the pipeline will take at least 2 years to complete. Once completed, it might help a little, but not much. (Keep in mind that a little here and a little there eventually adds up to a lot)

    #33
  34. Seriously?

    There will always be a “reason” to drive oil and gas prices higher. Last year they had tons of “reasons” why gas was driven up to $4 a gallon, and they all turned out to be BS and gas plummeted back to under $3 per gallon. Just a couple of months ago oil was around $85 per barrel and now it is $105. The real reason? So Wall Street can make a quick buck. Nothing has happened in the past 2-3 months that would warrant a 25% increase in oil price. Once again, Wall Street is speculating what “could” or what “might” happen, and it is driving the price of oil up. So in the end we all get to pay more for gas even if what they are predicting to happen never materializes (see 2011).

    #34
  35. Mayflower Girl

    If we go to war again after the next election, oil prices will continue to rise. It’s time that the US stayed home and let the Middle East take care of their own problems….

    Ron Paul 2012!!!

    #35
  36. Joe

    To those of you blaming Obama… you have a VERY short memory. Some of the highest gas prices we have seen have been w/ Dumbya Bush. I’m sure you were blaming him for the high gas prices back then, right? As others have stated, the Keystone pipeline wouldn’t affect gas prices this year, since it would take a couple years to build the pipeline. Plus, Nebraska and its REPUBLICAN governor were against the pipeline route as planned. So, now the Canadian company proposing to build the pipeline has to resubmit plans that avoid Nebraska’s aquifer. If that pipeline developed a leak/spill, you would be all over Obama for allowing it to be built there.

    #36
  37. Chris

    They are closing two major refineries in PA. that supply the northeast that do not want to spend the money to meet new regulations. So now they will pipe in gas from Texas city to the northeast. It is only going to get worst. Thank’s Lib’s

    #37
  38. MikeTx

    yea yea yea…blame the administration…We have had these crisis for the last 35 years. Hey get rid of that huge suburban, four wheel drive truck..nobody told you you had to have the biggest car in the neighborhood..

    #38
  39. Joe

    Dan, no use in explaining when someone refers to President Obama as “communist Prez Nobama.” They already hate him, and will blame him for everything, it seems.

    #39
  40. Bill in Houston

    Mmm mmm mmm, Barack Hussein Obama, mmm mmm mmm

    #40
  41. yellow journalism lives

    Insert usual common sense arguement here that will make no difference. Big Corps and our Gubmint are going to drain us of every dollar no matter what. We export gas to make the price higher?!? Who allows this?!? We do!!

    #41
  42. Will

    This is NOT because of a lack of oil or because of greed on the part of energy company’s.

    IT IS A TAX INCREASE BY THE ANNOINTED ONE, period.

    #42
  43. helen

    Eric, please do some research. Vertically integrated companies produce, refine and market their own oil/oil products. The refined products are sold on the world market at going market rates. To do otherwise would result in litigation based on undercutting other energy companies. Try to use some facts in your statements, pls.

    #43
  44. Don Quixote

    Thanks for predicting the obvious. It goes up in the Spring every year like clockwork. Then the demand will be less because of the price increase and we’ll see prices settle in at slightly less than predicted. This is a scam.

    #44
  45. Dan X. McGraw

    I think it’s unfair to say nothing has happened in the last two to three months. Tensions have been rising with Iran and the debt crisis has also plagued several European nations.

    #45
  46. Dan X. McGraw

    I think the important thing to remember here is that traders and the market decide the price of oil. Politicians — whether they are Democrats or Republicans — have very little impact on the price of oil. On a similar not, gasoline prices aren’t impacted much by politicians — unless you start talking about gasoline taxes.

    #46
  47. Dan X. McGraw

    Yeah You!, you are correct. Oil prices aren’t entirely directed to gasoline prices. However, the crude oil makes up about 60 percent of what drivers pay at the pump so it’s at the very least has an indirect impact. I’m not sure how you are determining 16 cents. Oil and gas prices aren’t made in a vacuum.

    #47
  48. Brian

    Those that use the argument that building the pipeline will not have an effect on oil availability for 4 years are short sighted… The same arguement was made for ANWR…. if it had been allowed to proceed that would have been producing about 5 years ago. It is true oil is traded on the market… however more oil available equals lower prices. Simple supply and demand.

    #48
  49. Dan X. McGraw

    Brian, oil prices do follow a simple supply and demand, but oil companies (and natural gas companies) have to get a return on their investment. Low oil prices and high expenses aren’t a formula any business wants, especially not energy companies. Clearly, there is a basement price for companies to be produce the supply and still make a profit on their return. Here is a clear example: http://fuelfix.com/blog/2012/01/20/natural-gas-company-suspends-drilling-in-east-ky/. With natural gas prices sinking lower, companies have been looking for ways to tap this investment and still get a return.

    #49
  50. jaycee

    Brian
    January 20, 2012, 12:04 PM
    The same arguement was made for ANWR…. if it had been allowed to proceed that would have been producing about 5 years ago. It is true oil is traded on the market… however more oil available equals lower prices. Simple supply and demand.
    —————————————
    Brian even the oil industry has stated that ANWR would only be a 5% to 6% change in energy prices. What it would do is throw the speculators a curve ball.

    #50
  51. Gulf guy

    How is this in an energy forum and there is such ignorance in the comments section? Gas prices are almost directly directly correlated with refinery output and speculation. That has very little to do with increased drilling, the president, or the Keystone pipeline.

    If you want politicians to act on it put strict regulations on speculation and give incentives to build more refineries.

    #51
  52. Jason

    Eric Wrote:
    “January 20, 2012, 8:25 AM
    Get a clue, Obama Haters!!! The price of oil is determined by the world price and we have little impact!! All of the oil that is extracted from America is sold on the Chicago Mercantile Exchange for the same price! Any more oil extracted and refined is sold overseas!!! Any more oil extracted does not reduce the price, only increases profit for oil companies. We are selling Gasoline to OTHER countries!!! Please check out what I say, don’t be blind by your hatred for Obama!!”

    But wait – I thought back in 2005 when gas prices went up, it was all Bush’s fault because of Cheney’s ties to Halliburton, right? And when Obama got elected, gas prices would go back to normal and people wouldn’t have to pay their mortgages anymore? Where’e the youtube video of that lady in Miami, who told is Obama would pay for everything??? Huh???

    #52