Gas prices could reach $3 in Houston again

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Gas prices are expected to rise again across the country (KTRK)

Drivers may get a sticker shock when it comes to the price of gasoline in 2017.

Analysts said Wednesday that prices may rise to $3 a gallon again in many of the nation's major metro areas, including Houston.

A jump in gas prices of 35 to 60 cents is expected between mid-February and likely to peak in May, according to experts at GasBuddy.

While Donald Trump's incoming administration is expected to be "the most oil-friendly in some time," mandates by the EPA and Clean Air Acts will fuel the price hike.

Senior petroleum analyst Patrick DeHaan said the seasonal switch from "winter blend" to "summer blend" is part of the reason many will be paying more at the pump.

"The list of factors being mixed into the yearly forecast has never been larger," DeHaan said.

In addition to Trump's policy changes, DeHaan said retail gas prices are affected by federal and state tax changes, Middle East volatility, currency fluctuations, the weather and what happens at refineries this year.

Gregg Laskoski, a petroleum analyst, said forecasting gasoline prices helps you save money in the long run, even when prices are climbing.

Related Topics:
newsgas pricessave moneyu.s. & worldoil
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