AAA Texas: Gas prices move upwards; state still has lowest average price in U.S.

State & Regional
Gas Pump Nozzle (Getty Images 2)

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LUBBOCK, Texas — Statewide gas prices rose slightly this week after falling for several weeks, according to a news release from AAA Texas.

“There are many layers of uncertainty surrounding the Omicron variant and how it will impact crude oil and gas prices,” said AAA Texas spokesperson Daniel Armbruster. “However, market optimism for crude and gasoline demand has been leaning toward the upside, which is why we’ve been seeing slight price increases at the pump.”

The statewide average price for a gallon of regular unleaded fuel was reported at $2.906 on Saturday but was trending slightly downward.

Drivers in El Paso were paying the highest gas price average this past week. The cheapest gas price average was reported in San Antonio, AAA Texas said.

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

The national average price for a gallon of regular unleaded fuel was reported at $3.304 on Saturday and was trending slightly up.

AAA Texas said strong demand from the holidays and optimism in the global market pushed both gasoline and crude oil prices higher this week.

The pre-Christmas fire at the Exxon Mobil Corp plant in Baytown is causing reduced output. However, recent reporting indicates the damage was to a non-refining section of the complex. The plant is the nation’s fourth-biggest oil refinery, with the capacity to process 560,500 barrels per day of crude.

In Lubbock, AAA Texas reported the average retail price was reported at $2.841 on Saturday.

The website GasBudddy.com reported an average retail price of $2.80 here in the Hub City. However, prices were as low as $2.63 for regular unleaded at some locations.

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