Texas Gas Prices Increase Slightly Even As Demand Remains Low
(CBSDFW.COM) - For the third straight week, gas prices in Texas have increased even as demand remains low when compared to last year, AAA reports.
The statewide average for a gallon of regular unleaded is now at $2.13, which is one cent more than last week and five cents less than this time last year, according to AAA.
Drivers in El Paso are seeing the highest prices at $2.31 for a gallon of regular unleaded, while those in the Sherman/Denison areas are seeing the least at $2.01.
AAA says an increase in crude oil prices has made prices at the pump grow while demand is still low due to the COVID-19 pandemic.
"Even as demand for retail gasoline remains relatively low when compared to this time last year, pump prices across Texas inched up week-to-week," said AAA Texas spokesperson Daniel Armbruster. "With the hope of increasing demand for gasoline later this year due to the recent rollout of COVID-19 vaccines and production cuts by OPEC+, crude oil prices are holding steady above $50 per barrel. Crude oil makes up approximately 55 to 60 percent of the total cost drivers pay at the pump for gas."
The national average for a gallon of regular unleaded is at $2.42, which is two cents more than last week and nine cents less than this time last year.
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