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Gas prices take an upward turn this week

Texas' average price is $2.75, national average is $3.16 per gallon of regular unleaded
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Posted at 10:19 PM, Dec 29, 2022
and last updated 2022-12-29 23:19:54-05

CORPUS CHRISTI, Texas — The price of gas at the pump has jumped 13 cents per gallon in the past week according to the AAA Texas Weekend Gas Watch.

Corpus Christi has the lowest priced gas in the state at an average of $2.60 per gallon of regular unleaded, while folks in El Paso are paying the most in the state at $3.25 per gallon.

Texas currently holds the second lowest gas prices in the country with a state average of $2.75. Georgia has the lowest average at $2.73. Hawaii currently pays the most for its gasoline at $5.03 per gallon.

Rising crude oil prices are to blame for the rise in prices at the pump. The price per barrel of crude was in the mid to low $70s per barrel the second week of December and has since gone up to about $80 in the last week.

Fuel deliveries being slowed by the cold snap were also a factor in the rise in prices at the pump.

However, the upward trend may be short-lived as crude oil futures have been pointing down the past couple of days on news of new COVID cases in China.

“The dynamics of crude oil and gasoline markets continue to be volatile as analysts weigh domestic and international demand outlooks coupled with supply impacts from the war between Ukraine and Russia,” said AAA Texas spokesperson Joshua Zuber. “To achieve the best fuel economy to save on higher fuel prices, practice safe driving habits, proper vehicle maintenance and compare gas station prices using an app such as the AAA mobile app.”

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