Statewide Gas Prices 53-Cents Higher Than 2017
The statewide gas price average in Texas is now $2.70 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is seven cents more than last week and is 53 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $2.99 while drivers in Amarillo and San Antonio are paying the least at $2.60 per gallon. The national average price for a gallon of regular unleaded is $2.90, which is six cents more than this day last week and 56 cents more than the price per gallon at this same time last year.
Gas prices increased in all Texas cities surveyed by AAA over the past week. The largest price jump week-to-week was in San Angelo where drivers are paying 15 cents more, on average, for a gallon of gas today than they were on this day last week.
Pump Prices increased across the nation over the last week in large part due to the White House’s decision to re-impose sanctions on Iran. As a result, 36 states are seeing gas prices that are a nickel or more expensive in past seven days. The Administration’s move combined with the switchover to summer blend, growing global demand and shrinking supply continues to fuel pump prices as we approach the summer driving season.
“Texans are paying $7.42 more, on average, to fill up one tank of gas compared to this same day last year,” said Daniel Armbruster, AAA Texas/AAA New Mexico Spokesperson. “Rising gas prices will not stop many Texans from traveling this Memorial Day, as AAA predicts the most people to travel away from home for the holiday since 2005.”
The South and Southeast region of the U.S. took the largest inventory draw in the country over the last week. Levels are now at their point the region has seen since the beginning of December 2017.