AAA Texas: Elevated crude oil prices, rising demand push gas prices up

State & Regional

A customer pumps gasoline into a vehicle in Lubbock, Texas.
(Nexstar Media Inc./EverythingLubbock.com File Photo)

LUBBOCK, Texas — Elevated crude oil prices and rising demand pushed gas prices upward again this week, ,according to a news release from AAA Texas.

The statewide average price for a gallon of regular unleaded fuel was reported at $3.082 on Saturday and was holding steady.

The motor club said that Texas drivers were paying the 3rd lowest gas prices on average across the country this week.

“The Thanksgiving travel period is fewer than three weeks away, and Texas drivers are paying, on average, $1.27 more for a gallon of regular unleaded gasoline from this time last year,” said AAA Texas spokesperson Daniel Armbruster. However, higher fuel prices are not expected to deter travelers from driving to their holiday destination.”

AAA Texas said drivers in El Paso were paying the highest gas price average this week. The cheapest gas price average was reported in Amarillo.

The national average price for a gallon of regular unleaded fuel was reported at $3.421on Saturday and was holiday steady.

According to the latest data from the Energy Information Administration (EIA), U.S. gasoline demand increased during the last week of October by around two percent. Demand also remains elevated compared to the first week of November 2020.

Regional fuel supply numbers increased slightly, and Gulf Coast refinery utilization registered up from the week prior.

In Lubbock, AAA Texas reported the average retail price was reported at $2.949 on Saturday.

The website GasBudddy.com reported an average retail price of $2.92 here in the Hub City. The website also noted drives could find regular unleaded gas prices as low as $2.75 a gallon.

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