Austin Gas Prices Heading Back Up

Average gasoline prices in Austin have risen 7.7 cents per gallon in the last week, averaging $3.81 per gallon on Monday, according to GasBuddy’s survey of 830 stations in Austin. Prices in Austin are 2.3 cents per gallon higher than a month ago and stand $1.34 per gallon higher than a year ago.

“Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen. Diesel is now $1 per gallon or more in many areas compared to gasoline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise. For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy.”

The national average price of gasoline has risen 6.9 cents per gallon in the last week, averaging $4.17 per today. The national average is down 1 cent per gallon from a month ago and stands $1.29/g higher than a year ago, GasBuddy reports.

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