Pump prices rise for the first time in two weeks

Local News

The statewide gas price average in Texas is $1.92 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents more than on this day last week and is 60 cents less 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 $2.17 while drivers in Lubbock are paying the least at $1.84 per gallon. The national average price for a gallon of regular unleaded is $2.20, which is one cent more compared to this day last week and 59 cents less than the price per gallon at this same time last year.

On average, drivers around the nation, and in Texas, are filling up with the most expensive gas since mid-March, according to Gasprices.AAA.com. Market analysts attribute the gradually rising cost to relatively steady demand for gasoline and crude oil prices rising slightly. Regional gasoline stock supply dropped to levels not seen since mid-April, according to the latest data from the Energy Information Administration. 

“Pump prices are creeping back up around the Lone Star State, and around the country, with demand relatively steady over the past few weeks and crude oil prices slowly rising,” said AAA Texas spokesperson Daniel Armbruster. “However, demand for gasoline has leveled off, even after the Independence Day holiday weekend.”

Drivers in Texas are paying some of the cheapest prices at the pump, ranking 6th in the country. Only nine other states are paying below $2 a gallon on average.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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