Texas gas prices have jumped up a bit ahead of the holidays.
The average price of gas in Texas has increased by 5.5% or about 12 to 15 cents per gallon since hitting a 2023 low on Monday, according to AAA. This increase was higher for some Texas metros, with the average price of gas rising by 20 cents or more per gallon.
For instance, the average gas price in Dallas was $2.75 per gallon on Thursday, while drivers in Midland and Tyler were paying at least $2.92 per gallon and $2.57 per gallon, respectively.
Images by AAA
“Gas price changes really varied this week across Texas metro areas after the statewide average dropped on Monday to $2.54, its lowest level of 2023,” said AAA Texas spokesperson Daniel Armbruster in the organization’s weekly report.
“We would expect the areas that have not yet experienced increases to start posting higher prices in coming days unless wholesale gasoline prices reverse course and drop significantly,” said Armbruster.
According to Oil Price Information Service (OPIS), wholesale gas prices in Texas jumped by about 20 to 25 cents earlier this week.
OPIS chief analyst Tom Kloza explained that the spike in wholesale prices signals a possible end to the price decreases that have been happening in Texas and much of the United States since August. However, he noted that late December and January tend to be volatile times for gas prices with no clear trend.
Overall, the statewide average was $2.69 for a gallon of regular unleaded on Thursday, which was 12 cents higher than the same day last week and eight cents higher than this date last year, according to the report. Meanwhile, the national average price for a gallon stands at $3.12, which is two cents more than a week prior and one cent higher than a year ago.
