Gas prices reach new highs in the valley

The state average for fuel is $4.39 per gallon, but some Valley gas stations charge $4.49 per gallon.

Prices in some of these stores have risen 20 cents since Friday morning – and nearly 50 cents since Tuesday

At this rate, 10 gallons of gas could cost $45, and a local economist expects prices to continue to climb.

“So the question is whether we expect this to increase somewhat, and I think the short answer is probably yes. We should expect this to increase because of the increased demand for motoring,” said Salvador Contreras, a professor of economics at UTRGV. “Americans are in top driving mode this summer and hitting the road. As the demand for gas increases, so does the price — this happens every year.”

Channel 5 News has been monitoring gas prices across the valley.

The lowest price seen was $4.19 per gallon at a gas station near the McAllen International Airport.

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