Texas Gas Prices Climb Due To Factors Including Crude Oil, Global Supply
(CBSDFW.COM) - Gas prices in Texas have increased this week due to factors including rising crude oil prices and global supply, AAA Texas reports.
According to AAA, the statewide average for a gallon of regular unleaded is now at $2.75, which is four cents more than last week and 98 cents more than this time last year.
Drivers in El Paso are seeing the highest average at $3.12 per gallon of regular unleaded, while those in Amarillo are seeing the lowest at $2.64.
AAA expects prices to fluctuate through the summer as crude oil prices continue to increase. The West Texas Intermediate is currently sitting at $70 per barrel of crude oil, which is the highest since October 2018, according to AAA.
However, experts don't expect prices to stay high after the Organization of the Petroleum Exporting Countries (OPEC+) announced they plan to increase crude oil production in July.
"Gas prices are expected to fluctuate over the next few weeks," said AAA Texas spokesperson Daniel Armbruster. "Higher crude oil prices will likely prop fuel prices up over the next several days."
Despite this week's increase, Texas is still seeing the third-lowest prices in the U.S.
