WICHITA FALLS, Texas (KAUZ) – Gas prices are climbing across Texas, and drivers in Texoma are beginning to feel the strain at the pump.<\/p>\n
According to AAA, the average price for regular gasoline in Texas is now about $3.25 per gallon. While that remains slightly lower than the national average, it still represents an increase of more than 57 cents over the past week in the Lone Star State.<\/p>\n
Fill N Chill owner Chris Cline said global events can quickly influence what drivers pay locally.<\/p>\n
\u201cSupposedly the Strait of Hormuz has been closed off, and that\u2019s rerouting oil. About 20% of the world\u2019s oil comes from the Strait of Hormuz,\u201d Cline said.<\/p>\n
Roughly one-fifth of the world\u2019s oil supply passes through the Strait of Hormuz, making the region a critical pathway for global energy markets. Any disruption there can send ripple effects through the oil industry, eventually reaching gas stations across the United States.<\/p>\n
Gasoline is traded on the global market, where the prices can shift rapidly.<\/p>\n
\u201cIt\u2019s traded just like anything else, so it will jump 10 to 15 cents. Every day I get my distributor calling me saying there are mid-day price increases. Usually, we get a price at the end of the day, but twice today they\u2019ve had increases on gas,\u201d Cline said.<\/p>\n
Those rapid price swings are already influencing how some drivers plan their travel.<\/p>\n
One Texoma driver says she is cutting back on trips outside the city to help manage costs.<\/p>\n
\u201cI\u2019m less likely to go somewhere like Burkburnett or Iowa Park more than twice a week. I normally just focus on one trip a week if I have to. I can only imagine how someone commuting from Burkburnett or Iowa Park would really feel that impact,\u201d Texoma driver LaShanda Turenne said.<\/p>\n
While many drivers understand gasoline remains a necessary expense, experts warn that continued increases could put additional pressure on household budgets, especially as many families are already dealing with rising costs.<\/p>\n
Where prices go from here may depend largely on what happens overseas.<\/p>\n
\u201cIt all depends on how the Iran-Gulf situation develops,\u201d Cline said. <\/p>\n