Texans Are Now Paying $4 a Gallon and One City Is Paying Much More
· NewsTalk 1290The inevitable has happened, and Texans are now getting gut-punched at the pump. While we had a reprieve for a few weeks, prices jumped almost 30 cents last week. Now people across Texas are seeing $4 per gallon.
According to AAA Texas, the average price of gas in Texas is $4.09. You read that right, $4.09. Prices have jumped another 24 cents this week. The national average is $4.56. This comes at a time when families have to travel for high school and college graduations. Some families planned getaways over Memorial Day weekend to kick off the summer, and now many will have to reconsider how far they travel.
Lubbock is still paying the least at $3.91 per gallon, and Amarillo is right behind at $3.92. However, San Angelo is paying the highest at $4.21 per gallon. San Angelo's gas prices jumped 26 cents this week.
- Amarillo: $3.92, up 31 cents from last week
- Lubbock: $3.91, up 31 cents from last week
- Midland: $4.16, up 33 cents from last week
- Tyler: $3.97, up 26 cents from last week
- El Paso: $4.11, down 4 cents from last week
El Paso, for the first time in 2 months, actually dropped instead of rising.
Tensions in the Middle East, stranded tankers in the Strait of Hormuz, Iran’s push to screen and tax ships, and continued military exchanges are fueling the spike in gas prices, and they’re likely to keep climbing until the conflict settles down.
Read More: Quick History Of Texans Being Charged 9/10 On Gas Prices
Looking at the price of crude oil, Oilprice.com reports that Brent Crude is $101.20, while WTI is $96.06.
Ongoing geopolitical tensions and uncertainty surrounding the Strait of Hormuz continue to influence the global oil market. At the same time, warmer weather brings more people onto the roads, which typically increases fuel demand this time of year, said Daniel Armbruster, spokesperson for AAA Texas.
As of now, lower gas prices are just a dream, and Texans are going to need to adjust their budgets to find alternative ways to get places that don't rely on gas. However, when gas prices rise, so do the prices of everything else.
The struggle is real and it doesn't look like relief is in sight.
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