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San Marcos-Austin area drivers are paying an average of $3.91 per gallon of unleaded fuel. Left, a gas station in San Marcos advertises gas for $4.19 per gallon of unleaded. Daily Record photo by Nick Castillo

Gas price averages in Texas rise 11 cents over last week

Sunday, May 8, 2022

Gas prices are on the rise again.

After a brief reprieve in April, gas price averages rose 11 cents over the last week in Texas, according to AAA Texas. The statewide average was $3.90 per gallon of regular unleaded fuel as of Thursday. According to AAA Texas, drivers in the San Marcos-Austin area saw an increase of 15 cents per gallon over the last week from $3.76 per gallon on April 28 to $3.91 on Thursday.

AAA cited the high cost of crude oil as a reason for the rise in gas prices as the price of oil accounts for approximately 60% of pump prices. The cost of a barrel of crude oil is more than $100. Additionally, fears of a global energy supply disruption due to Russia’s invasion of Ukraine outweighs the demand concerns caused by the COVID-19 pandemic on China’s economy, AAA Texas added.

“This week drivers noticed prices on the rise due to the crude oil market still reacting to the war in Ukraine,” AAA Texas spokesperson Joshua Zuber said. “While it is difficult to say how high prices may go, drivers should prepare their vehicles for road trips this summer by performing recommended maintenance, which can help improve fuel economy and maximize safety.”

Gas prices across the country have seen an increase with the cost up 6.9 cents compared to a week ago. According to GasBuddy, the national average, which is at $4.17, is down 1 cent compared to last month but is $1.29 per gallon higher than last year. Additionally, the price of diesel is up 22.2 cents compared to the last week with the national average at $5.29 per gallon.

“Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen. Diesel is now $1 per gallon or more in many areas compared to gasoline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise. For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy.”

In Texas, drivers in Texarkana are paying the most on average at $3.99 per gallon, according to AAA, while drivers in Lubbock are paying the least at $3.77 per gallon.

San Marcos Record

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P.O. Box 1109, San Marcos, TX 78666