DALLAS (WBAP/KLIF) – The statewide gas price average in Texas is $3.00 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents more than from the same day last week and is 89 cents more per gallon compared to the same week last year.
According to AAA, of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.29 per gallon while drivers in Amarillo are paying the least at $2.90 per gallon. The national average price for a gallon of regular unleaded is $3.35, which is three cents more when compared to this day last week and 94 cents more than the price per gallon at this same time last year.
Industry experts said on Friday that rising geopolitical tensions between Russia and the West over Ukraine continues to drive crude oil prices higher, and that will more than likely lead to additional cost at the pump. Demand for fuel also increased from the week prior while regional gasoline supplies remain practically the same, according to the most recent data from the Energy Information Administration. Gulf Coast refinery utilization remains the same from the week prior.
“With tensions escalated between Ukraine and Russia and demand for gasoline climbing, market prices for crude oil have been moving upward,” said AAA Texas spokesperson Daniel Armbruster. “While gas price trends can sometimes be unpredictable, the current market environment suggests higher pump prices could stick around for a while.”
Drivers in Texas are paying the fourth lowest gas price average in the country, according to gasprices.aaa.com. Drivers in California are paying the most at $4.64 on average for a gallon over regular unleaded.
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