"I fully believe it's speculation," he said. "I don't think there's any justification for any of it."
Ward said he personally noticed a 30-cent increase per gallon over a four-day period.
"Last Thursday," he continued, "I was talking to my supplier and he said over the last two days he had seen a 14-cent increase."
He said the rise and fall of gas prices is largely unpredictable.
"I don't think there's anything that's going to stop the fluctuation," he said.
The state average for a gallon of gas is 12 cents less than the nationwide average of $3.68, though GasBuddy.com predicts a continued increase across the board.
"The steady climb of retail gas prices is likely to continue following double-digit increases in wholesale prices with fuel production tightening in the majority of the country's refineries," said Gregg Laskoski, senior petroleum analyst for GasBuddy.
He explained some areas of the nation, including Los Angeles, have seen increases of up to 55 cents per gallon within one month. Many metropolitan areas now have average gasoline prices north of $4 per gallon.
GasBuddy also operates regional websites which monitor local fuel prices. According to data from Dallas, which is the nearest urban center included in the network of sites, North Texas prices generally fall between the state and national averages.
As of Monday afternoon, the Dallas average was just over $3.63 per gallon.