Gas prices to increase by $2 a gallon this week

Gas prices in Texas are still the third lowest in the country, but the price continues to show over $2 at the pumps.

Texas is well into its second week above $2 a gallon for regular unleaded. This week, gas prices will increase by two cents more per gallon. At this time, the statewide gas price in Texas is an average of $2.12 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. The current average is the highest Texas drivers have been paying since early March.

On this day last year, gasoline prices were 11 cents more per gallon. Texans in El Paso are paying the most for gas, at a total of an average of $2.32 while drivers in the Sherman-Denison area are paying the least at $1.99 per gallon.

The price increase trend may be slowing for now, however, crude oil prices continue to rise even as demand is below levels from a year ago. It’s possible the trend could shift as crude inventories have increased.

“Rising crude oil prices have led to an increase at the pump for drivers in the Lone Star State,” said AAA Texas spokesperson Daniel Armbruster. “And while the price increase trend has shown signs of slowing, higher crude oil prices may be on the horizon despite gasoline demand continuing to be below January 2020 levels.”

Drivers in Texas are paying some of the cheapest prices at the pump, ranking third lowest in the country, according to gasprices.aaa.com. Mississippi holds the first place at $2.09.

The national average price for a gallon of regular unleaded is $2.40, which is four cents more when compared to this day last week and 14 cents less than the price per gallon at this same time last year.