Regular gas prices in Dallas have fallen almost 16 cents in the last week due to the cease fire with Iran and talks over the weekend to end the war, but the U.S. blockade after weekend talks failed could raise them right back up.
According to data from GasBuddy, a tech company and app that tracks gas prices around the U.S., regular grade gasoline has fallen 15.6 cents over the last week. The average price of 87-grade gasoline in Dallas, as of April 13, is $3.69 per gallon. Even with the declines, GasBuddy states “prices in Dallas are 21.9 cents per gallon higher than a month ago and stand 81.4 cents per gallon higher than a year ago”, while the national average remains mostly unchanged.
Price reports show the lowest gas in Dallas yesterday was $3.33 per gallon, while the lowest price in Texas was in Lubbock at $2.89 per gallon, making the local price about 15% higher.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the negotiations played a part in lowering gas prices early last week. However, now that talks have ceased and no plans for peace are in place, De Haan believes prices could surge again as a result and warns motorists to prepare for another round of increases.
“The move toward a full blockade of the Strait of Hormuz is compounding global supply concerns and risks further disrupting flows, which pushed oil prices sharply higher in Sunday night trading,” De Haan said. “Gasoline prices are likely to jump again this week, with diesel expected to follow, until there is a meaningful restoration of shipping through the Strait.”