Texas Gas Price Up 93 Cents Per Gallon Compared To This Day Last Year
NORTH TEXAS (CBSDFW.COM) — Statewide gas prices in Texas are averaging $2.83 for a gallon of regular unleaded, according to the AAA Texas.
The current price is one cent less than on this day last week and is 93 cents more per gallon compared to this day last year.
Of the major metropolitan areas surveyed in Texas, drivers in Odessa are paying the most on average at $3.04 while drivers in the Sherman-Denison area are paying the least at $2.75 per gallon.
Anyone pulling up to the pump in Dallas is paying an average $2.80 for a gallon of gas, and folks filling up in Arlington and Fort Worth are paying the same price.
The national average price for a gallon of regular unleaded is $3.16.
Demand for retail gasoline remains strong across the United States as more people are traveling this summer compared to 2020. Oil Price Information Service data shows that U.S. gasoline sales climbed 3.6% week-over-week.
Crude oil prices are much more expensive now than they were last year, which is why retail gasoline prices are nearly one dollar more per gallon, on average. The cost of crude makes up roughly half the cost of what is paid at the pump.
"Crude oil prices, which are the biggest factor when it comes to what we pay at the pump, have been on a roller coaster this week," said AAA Texas spokesperson Daniel Armbruster. "Crude prices saw sharp declines early in the week but rebounded quickly."
AAA experts say it's unlikely drivers will see much relief, if any, at the pump through the rest of July.