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Gas prices across Texas break new records overnight

Your Thursday Morning Headlines, June 2nd, 2022
Your Thursday Morning Headlines, June 2nd, 2022 03:12

NORTH TEXAS (CBSDFW.COM) - It's something you probably already know but statewide gas prices in Texas set a new record overnight.

Brace yourself! According to AAA, the current gasoline average price in the Lone Star State is $4.34 for a gallon of regular unleaded. That price is eight cents more than on this day last week and is $1.63 more per gallon compared to this day last year.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $4.54 per gallon while drivers in Lubbock are paying the least at $4.16 per gallon. Folks pulling up to the pump in Arlington, Dallas, and Fort Worth are paying an average $4.44 for a gallon of gas. The national price average is $4.71.

"New retail gas price records continue to be set across the state as crude oil prices remain elevated due to tight supplies around the globe," said AAA Texas spokesperson Daniel Armbruster. "Prices will likely continue to fluctuate with relief likely not coming until after the busy summer travel season concludes."

The spike in gas prices is primarily driven by the oil market watching the possibility that supplies may become tighter as COVID lockdowns ease in China and the European Union will phase in a ban of most Russian oil products.


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