TEXAS — North Texans are feeling the weight of higher prices at the pump and the uncertainty surrounding oil and gas prices as the war in the Middle East continues.
Some drivers said they’re monitoring rising crude oil and gas prices, and they plan on making some tough financial decisions as needed. As gas prices climb, optimism is low for some consumers hitting the pumps.
“I don’t think we’ve seen the end of it, if I’m being honest. There’s a conflict going on,” said Roanoke, Texas, resident Mike Andreuccetti about the spike in gas costs. “We gotta keep our eye on it, and those of us who budget are definitely gonna have to tighten some of our budgets.”
Businesses are also feeling the impact of those tighter budgets, with some restaurants reporting fewer customers.
“The business is going down. You can see now it’s pretty slow,” said Jonathan Oscal, who works at Taco ‘N’ Madre Taqueria in Roanoke. “They have to pay bills. They have to pay for gas. They’re not gonna come.”
Texas oil producers like R.T. Trevino say a global chess game is driving up crude oil process to more than $90 a barrel.
“With all the uncertainty of what’s going on in Iran right now, is why the price of oil and the prices of gasoline and diesel have spiked over the last two weeks,” Trevino said.
According to AAA, the unleaded gas price average in Texas is now close to $3 per gallon, which it reports is up $0.26 from this time last week and $0.14 more per gallon compared to this day last year. AAA also says demand is expected to increase because of spring break.
“We may go up another 10, 20, or maybe 30 cents, but hopefully, we may come back below $3 once this is settled,” said Trevino.
On the bright side, he says if the $90-plus a barrel stands, it will create short-term profits for Texas oil producers, more jobs, and he says it will drive down prices.
“What’s the price of oil going to do for the full week, not Friday, not today, but for the full week? That may give us an idea of where we’re going over the next couple of weeks,” Trevino said, urging Texans to operate business as usual.
“Yes, prices may go up; however, let’s not create local shortages to where we gotta get the gasoline there faster,” Trevino said.
As consumers gas up for work and pay bills, they plan to keep it all in perspective.
“You control what you can, and if you can’t, you just make the best out of it,” said Andreuccetti.
Scott Whitesell, another Texan monitoring the gas prices, agrees and plans to spend wisely.
“Gotta adjust,” Whitesell said. “Instead of doing that dumb purchase, leave it off until the gases come back down.”