According to gasbuddy.com, most markets across the state have seen the price of a gallon of regular unleaded gas jump 18 cents since December 30 and 15 cents in the last three days alone.
Many convenience stores across Abilene are now charging 20 cents or more a gallon than they did this time last week.
It's possible prices could be headed back down. A report released by the Energy Department Wednesday revealed oil and gas supply jumped unexpectedly from last week. Late Wednesday, the report drove oil and gas numbers down. Oil prices plunged $6 a barrel late in the day.
About the only thing experts can agree on right now is that the oil market is volatile.
"I think what's happening is the distributors, the oil companies, the traders are testing the waters to see what the market will bear," Dan Ronan of AAA Texas told the Dallas Morning News. "Lo and behold, crude went up to 50 bucks the other day and now it's coming back down again. It's still all about supply and demand."
Still, paying $1.60 for gas doesn't even compare to a near-$4 peak in July.