Higher gas prices will not deter Texans from traveling this holiday. Nearly 5.1 million Texans are expected to travel for the Christmas - New Year's holiday, up 1.4 percent from last year. When you factor in hotel and rental car rates, gasoline remains a relatively small part of most family travel budgets.
Conditions indicate that motorists may see slight increases in retail gasoline prices within the next few days. Typically, pump prices in Texas move lower during this time of year due to a decrease in demand, but with crude oil trading around $63 a barrel that has yet to happen.
We've heard of increases in Texas as high as 50 cents a gallon overnight following Hurricane Katrina.
It's also another indication why it's so important for parents to limit teens from being exposed to dangerous driving conditions and also to manage their driving experience.
It's clear from this analysis that young drivers' lack of experience on the road is a major traffic safety issue.
What I'm hearing is that more and more we are topping the $3 a gallon mark in Texas.
We may see prices even higher because of the hurricane. I don't think we've seen the end of record crude prices.
Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around $64 a barrel, it doesn't appear likely gasoline will fall below $2 a gallon anytime soon.
After the New Year, pump prices in the state typically turn down due to a decrease in demand.
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