LUBBOCK, Texas — Retail gasoline prices jumped this week all across the Lone Star State, according to a news release from AAA Texas.
The statewide average price for a gallon of regular unleaded fuel was reported at $2.658 on Saturday and trending upward.
“Pump prices have increased this week in every major metro area across the Lone Star State,” said AAA Texas spokesperson Daniel Armbruster. “Rising COVID-19 cases in some overseas countries are causing demand concerns in global markets and crude oil prices have been fluctuating. Nonetheless, oil and gas market dynamics in Texas imply retail fuel prices may continue to rise as demand for gasoline is expected to increase with the upcoming Memorial Day holiday and as more Americans receive the COVID-19 vaccine.”
Texas drivers, however, were paying the third lowest gas prices on average across the country this week.
Regional fuel supplies have increased and Gulf Coast refinery utilization registered higher this week at 90 percent.
The national average price for a gallon of regular unleaded fuel was reported at $2.960 on Saturday and was trending upward.
The latest update from the Energy Information Administration showed U.S. gasoline demand held steady from the prior week at just under nine million barrels per day.
In Lubbock, AAA Texas reported the average retail price was reported at $2.651 on Saturday.
The website GasBudddy.com, however, reported an average retail price of $2.62 here in the Hub City. The website also noted drives could find regular unleaded gas prices as low as $2.47 a gallon in Lubbock.