Day after day, we are back in a pattern of rewriting the record book on gasoline prices.
According to AAA, the Dallas-Fort Worth average for regular unleaded jumped another six cents Friday is establish a new all-time high price of $4.50 a gallon. The national average saw a similar bump and is now at $4.77.
Many North Texas stations added 20 cents to their pump prices late Thursday, and that is on top of the 25-cent increase we saw early in the week.
GasBuddy.com Head of Petroleum Analysis Patrick DeHaan told KRLD News the reason for the dizzying move upward is simple. Gasoline demand remains high, while the nation's supply is at an eight-year low. Even with U.S. refineries running at 93% capacity, he said it is difficult to keep up.
DeHaan predicted the national average gas price will touch $5 in the next couple of weeks, and he added that if Gulf Coast refineries are threatened by tropical weather, prices could begin to accelerate even more. DeHaan spoke Friday morning with KRLD's Chris Sommer.
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