LUBBOCK, Texas — The Lone Star State had the lowest statewide pump price average in the nation this week, despite rising oil prices, according to a news release from AAA Texas.
The statewide average price for a gallon of regular unleaded fuel was reported at $2.902 on Saturday and was trending upward.
“Crude oil prices have been driving up the price for gasoline recently as demand for fuel products has remained strong,” said AAA Texas spokesperson Joshua Zuber. “However, there may be some relief on the horizon as U.S. crude stocks increased last week.”
The motor club said drivers in El Paso were paying the highest gas price average this week. The cheapest gas price average was reported in Sherman.
The national average price for a gallon of regular unleaded fuel was reported at $2.266 on Saturday but was trending upward.
According to the latest data from the Energy Information Administration (EIA), U.S. gasoline demand continues to increase and remains elevated compared to this time frame last year.
Gulf Coast regional fuel supplies numbers fell slightly, despite a slightly increase in refinery utilitization.
AAA Texas warned drivers may see gas prices rise even more as crude oil prices continue to increase.
Factors attributing to rising crude oil prices were global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic.
In Lubbock, AAA Texas reported the average retail price was reported at $2.816on Saturday.
The website GasBudddy.com reported an average retail price of $2.79here in the Hub City. The website also noted drives could find regular unleaded gas prices as low as $2.63 a gallon.