LUBBOCK, Texas — Retail gasoline prices increased across the Lone Star State this past week as spring break travel got underway, according to a press release from from AAA Texas.
Meanwhile, the seasonal switch to summer blend gasoline is also underway adding to price increases at the pump, the motor club said.
The statewide average price for a gallon of regular unleaded fuel in Texas was reported at $3.085 on Sunday.
Texas drivers overall were paying the third lowest gas prices on average across the country this past week, the motor club said.
“As a busy spring break season gets underway, increasing pressure on fuel demand is causing retail gas prices to increase,” said AAA Texas spokesperson Daniel Armbruster in the press release on Thursday. “While gas prices have climbed above $3 again in many areas across the state, the average price for fuel is significantly cheaper than at this time last year, which will likely spur demand for travel this spring and summer.”
The highest gas prices in the state were reported in El Paso. The cheapest gas prices were reported in San Angelo.
Texas recorded its highest gas price average on June 15, 2022 at $4.695 a gallon.
The national average price for a gallon of regular unleaded fuel was reported at $3.472 on Sunday.
AAA Texas said when it comes to the main ingredient in gasoline, crude oil, inflation and higher interest rates were on the minds of market watchers. There are also daily changing headlines out of China concerning fuel demand.
These factors have kept the price of the price of crude oil swinging between around $70 to just over $80 a barrel.
According to OilPrice.com, West Texas Intermediate (WTI) crude oil ended the week back on Friday at $76.68 a barrel. It had ended the previous week at $79.68 a barrel.
AAA Texas has said crude oil makes up nearly 60 percent of the cost of a gallon of gasoline.
Ultimately, retailers set the final price for gas.
The U.S. recorded its highest gas price average on June 14, 2022 at $5.016 a gallon.
Locally, the average retail price for a gallon of regular unleaded fuel in the Lubbock was reported at $3.035 on Sunday.
Lubbock recorded its highest gas price average on June 14, 2022 at $4.520 a gallon.
Meanwhile, the consumer website GasBudddy.com reported an average retail price of $2.99 in the Hub City on Sunday. Prices were as low as $2.79 for a gallon of regular unleaded. GasBuddy.com data on Sunday indicated local prices were trending downward.