SAN ANTONIO (KTSA News) — AAA Texas says gas prices continue to climb in the Lone Star State.
The auto club says the average price for a gallon of regular unleaded rose by 3 cents this week to $3.05.
That’s $1.21 more than what we were paying one year ago.
“To fill up an average size tank is costing $17 more compared to this time last year,” said AAA Texas spokesperson Daniel Armbruster. “There are many market forces that suggest pump prices may stay around these levels for a few more weeks, however, market analysts have noted a surprise build in national oil inventories which may provide some relief as we approach the Thanksgiving travel period.”
Demand for gasoline is actually decreasing but it’s still higher than last year. But supplies have decreased as well.
The biggest reason for the increase is the continue increase in the cost of crude oil. Just a couple of months ago, the average price of crude was $60 a barrel but now that price is up to $80.
AAA says refineries along the Gulf Coast are increasing production which could help keep gas prices from making significant jumps.
Even with the recent price per gallon climb, Texas has the second lowest average price in the nation, trailing Oklahoma by 3 cents.
Drivers in San Antonio saw a 1 cent increase in the average price per gallon which is currently at $2.94.
Amarillo has the lowest average gas prices in Texas at $2.91.