AAA Texas: Strong Demand and Rising Oil Prices Send Gas Prices Up

Posted at 8:45 AM, Apr 12, 2018
and last updated 2018-04-12 09:45:04-04

The statewide gas price average in Texas is now $2.45 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. 

That price is two cents more than last week and is 20 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.69 while drivers in San Antonio are paying the least at $2.32 per gallon.

The national average price for a gallon of regular unleaded is $2.67, which is one cent more than this day last week and 27 cents more than the price per gallon at this same time last year.

Today, the national gas price average has now reached the 2017 peak of $2.67 per gallon, which occurred in September during the days after Hurricane Harvey made landfall. Gas prices in many parts of the country have edged higher this week. Additionally, demand for gasoline remains robust.

“The national gas price average has now reached its peak from 2017 at $2.67 for a gallon of regular unleaded, said Daniel Armbruster, AAA Texas/AAA New Mexico Spokesperson. “Compared to this day last year, Texans are paying 20 cents more per gallon to fill up their gas tanks. To improve fuel economy, drivers should keep the vehicle up to date on maintenance and avoid quick starts and stops on the road.”

Market analysts note that oil prices have gone up in the last three days. This news follows Energy Information Agency (EIA) reporting that crude exports hit a record high for the week ending on March 30. The last record high occurred in October 2017. Domestic crude oil production broke a new record this week, with production in the lower 48 states topping 10 million barrels per day.