Will Matthew Push S.A. Gas Prices Higher?

The calendar might say it’s Fall–but prices at gas pumps around the Alamo City and across the State of Texas continue to climb.

“Gas prices AAA finds will probably continue to wobble for the next couple of weeks” Sarah Schimmer with AAA Texas told KTSA News, pointing to three specific factors.

We know the repair of the Colonial Pipeline in the Southeast has had an impact on the market. We also know OPEC’s recent announcement of plans for production cuts has helped to put some upward pressure on prices.

The, there’s the biggest x-factor right now: Hurricane Matthew.

“While we haven’t seen what kind of disruptions it will have to oil and gas, the market is also reacting” Schimmer said, adding “With the hurricane along the Atlantic and not really knowing what kind of damage it might cause to assets or resources… production and distribution–the market is still looking to see what kind of reaction it might have when the hurricane passes.”

Over the last week, the Statewide average price per gallon in Texas climbed over the $2 mark. The San Antonio average now sits at $1.95 after a three-cent jump.

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