The following is from the Jan. 28, 2015, edition of CBS 11 News. Bernard Weinstein, an economist and associate director of SMU's Maguire Energy Institute, provided expertise for this story.
February 3, 2015
After dipping well below the $2 mark, gas prices across North Texas are creeping back up.
The overall average price in Texas is up about a penny from last week, to $1.85.
In North Texas, prices averaged nine cents higher this week, at $1.88 at the pump. This compares to $3.12 on January 28 of last year.
AAA analysts expect gas prices to increase this spring, because of seasonal demand and refinery maintenance.
“We knew there was going to be a bottom for these prices. Whether this is it – we still don’t know,” said Doug Shupe, a spokesman for AAA Texas.
At Southern Methodist University’s Maguire Energy Institute, Associate Director Bernard Weinstein projects prices to stay within 10-cents of current prices, for the next six months.
Despite the increase in prices drivers are paying, Weinstein says shale production will likely remain slower this year – as expected – than last year.