Low wind speed conditions are often associated with poor air quality in urban areas, especially near roadways. Predictions of pollutant concentration under such conditions, i.e. low wind-speeds and near road locations, are, however, complicated by the role of traffic produced turbulence (TPT) on pollutant mixing and dilution. Existing dispersion models consider the effect of TPT on pollutant concentrations near roadways, accounting for parameters such as vehicle intensity, vehicle speeds, etc, but do not explicitly account for the contribution of two-way traffic interaction on the pollutant dispersion parameter. The turbulent kinetic energy (TKE) resulting from a two-way traffic condition will be higher than that with a one-way traffic pattern. Here, we obtain a simple formulation for TKE under a two-way traffic pattern from the balance of production and dissipation of turbulence. Considering the vorticity generated by the two-way traffic and determining the equivalent drag coefficient, an expression for TKE due to the two-way traffic interaction was obtained for three different traffic density regimes: light, intermediate, and heavy. The model predictions are validated by comparison with published data from a field study. An improved parameterization of the TPT considering the two-way traffic interaction effect is seen to significantly improve predictions of near roadway pollutant concentrations.