Texas Gas Prices Soar As Russia-Ukraine Conflict Pushes Crude Oil Prices To 11-Year Highs
NORTH TEXAS(CBSDFW.COM) - According to AAA Texas, the statewide gas price average in the state is $3.38 for a gallon of regular unleaded fuel. That price is 17 cents more than from this day last week and is 92 cents more 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 $3.58 per gallon while drivers in Amarillo are paying the least at $3.24 per gallon. Drivers looking to fill up in Dallas are paying an average $3.47 a gallon for unleaded. While folks pulling up to the pump in Arlington and Fort Worth are shelling out a little less, giving $3.46 for a gallon of gas.
The national average price for a gallon of regular unleaded is $3.73, which is 19 cents more when compared to this day last week.
Gas price averages in Texas and across the country have increased significantly in the last week. The statewide gas price average has not been as high as $3.38 since August 2014. The energy market has been volatile in recent weeks due to the war between Russia and Ukraine, causing uncertainty about Russia's large crude oil supplies. That uncertainty is causing crude oil prices to spike well over $100 a barrel and means gas prices will more than likely continue to rise.
"Demand for gasoline will only increase as spring approaches and more people travel," said AAA Texas spokesperson Daniel Armbruster. "Couple that with rising crude oil prices and drivers can expect to continue to see even higher fuel prices in the days and weeks ahead."
According to gasprices.aaa.com, drivers in Texas are paying the third lowest gas price average in the country.
