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Gas prices continue to rise in San Marcos area

Thursday, January 26, 2023

Gas prices in the San Marcos/Austin area rose 15 cents over the last week, according to AAA Texas.

Drivers in the San Marcos/Austin area are paying an average of $3.15 per gallon of regular unleaded fuel on Thursday, which is up from $3 last week. Average gas prices in the area are 19-cents higher than this time last year.

Texas saw an overall 14-cent increase per gallon of regular unleaded fuel — a rise from $2.99 last week to $3.13 on Thursday, according to AAA Texas. Average gas prices in Texas are $0.13 higher than this time last year. Texans are still paying the lowest for gas in the U.S., AAA Texas said.

AAA Texas stated crude oil prices have been increasing recently and demand has also risen compared to prior week. Additionally, the war between Russia and Ukraine continues to keep the supply picture unclear, AAA Texas said.

“On the demand side of the equation, market watchers are still wondering about the impact the inflation and higher interest rates may have on the energy industry,” AAA Texas added. “Also weighing on the markets is the question of China’s reported relaxing of COVID-19 restrictions and its potential impact that it may have on fuel demand.”

“Volatility remains front-and-center in the energy markets, but overall, there has been upward pressure on fuel prices,” AAA Texas spokesperson Daniel Armbruster said. “To get the best fuel economy, it’s important to remember to drive within posted speed limits, keep your vehicle well-maintained and use an app — such as the AAA mobile app — to see how much stations are charging in your area.”

Nationwide, gas prices continued to rise for the fourth consecutive week. The average gas price is up 11.3 cents from last week to $3.39 per gallon, according to GasBuddy. The national average has increased 30.2 cents from a month ago but is up 7.3 cents per gallon higher than last year. The national average price of diesel has risen 2.6 cents since last week and was at $4.60 per gallon, GasBuddy said.

“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”

In Texas, drivers in the El Paso area are paying the most on average at $3.39 per gallon, while drivers in Houston and Beaumont are paying the least at $3.08.

San Marcos Record

(512) 392-2458
P.O. Box 1109, San Marcos, TX 78666