Gas Prices Jump In Amarillo. Are They Coming Down Soon?

There's no question that we've been spoiled with some pretty affordable gas prices here in Amarillo for the last 6-8 weeks. They've been hovering anywhere between $2.39-2.59 per gallon, which makes it a lot more affordable to drive.

Out of nowhere last week though, we saw them jump to $2.89, then a couple of days later, $3.09 per gallon in what felt like the middle of the day. That is a sharp increase that blindsided all of us drivers, and I'm sure the amount of cuss words that came out of your mouth was plentiful.

So what caused the massive spike in gas prices? Are they coming down anytime soon?

DEMAND MEET SUPPLY

Warmer weather always makes us want to get out and about more. It sends us on day trips around the state, it has us running more errands because the weather is enjoyable. Oh, and spring break just wrapped up for schools across the city.

Therefore, the demand for gasoline shot through the roof. When that happens, obviously it drains the supply a bit, and prices have to jump up while they manufacture more for us to burn. The summer gasoline switchover was also mentioned as a reason why gas prices went up.

WHAT IS THE SUMMER GASOLINE SWITCHOVER?

I had never heard of this term in my life, so I had to look this one up. I didn't realize that winter and summer had different types of gasoline that gas stations had to sell, but they do. Kind of like windshield wiper fluid, I guess. You have the winter stuff that doesn't freeze to your window.

Refineries start manufacturing this summer grade in March & April, and gas stations have until June 1 to fully switch over to the summer-grade gasoline. That is one of the reasons why we see the prices start to jump a bit in spring.

IS IT COMING BACK DOWN TO EARTH ANYTIME SOON?

Here's the good news. According to Patrick De Haan, head of petroleum analysis at GasBuddy, the price of gas should start to come down in just a few weeks once the refinery output begins to increase.

The bad news is it could rise even a bit higher until we hit that point. So if you've been delaying getting yourself that full tank of gas, now may be the time. No point in paying higher prices if you don't need to.