Gas Prices Move Upward In Texas, State Still Has Lowest Average In U.S.
NORTH TEXAS (CBSDFW.COM) — According to AAA, the statewide gas price average in Texas is $2.91 for a gallon of regular unleaded. That price is two cents more than it was on this day last week and 94 cents more compared to last year.
Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.17 per gallon while drivers in San Antonio are paying the least at $2.80 per gallon. Those pulling up to the pump in Dallas, Fort Worth and Arlington all are shelling out an average $2.96 for a gallon for fuel
The national average price for regular unleaded is $3.30, which is two cents more when compared to this day last week and $1.03 more than the price at this same time last year.
Strong demand from the holidays and optimism in the global market are pushing both gasoline and crude oil prices higher this week. Meanwhile political unrest and pipeline issues overseas could take more than 500,000 barrels of oil per day offline from the global market.
"Market optimism for crude and gasoline demand has been leaning toward the upside, which is why we've been seeing slight price increases at the pump," said AAA Texas spokesperson Daniel Armbruster.
Meanwhile, the pre-Christmas fire at the Exxon Mobil Corp plant in Baytown is causing reduced output. However, recent reporting indicates the damage was to a non-refining section of the complex. The plant is the nation's fourth-biggest oil refinery.