Texas Gas Prices Hit All-Time High

Gas pump | Image by suwit 1313

According to AAA, gas prices in Texas reached another record high on Tuesday, surpassing the previous record set two months ago. As of last week, prices had risen 48% over the past year.

Texarkana drivers are paying the most, at an average of $4.17 per gallon, but North Texas is not far behind, at around $4.14 per gallon.

AAA shows other areas in Texas are seeing somewhat lower prices. In Austin and Houston, drivers pay an average of $4.06 and $4.05, respectively. San Antonio has managed to stay below the $4 mark, at an average of $3.99 per gallon.

The lowest prices within the state can currently be found in the Texas Panhandle, an area that includes the cities of Amarillo and Lubbock, while just to the south, West Texans see the highest prices.

AAA’s Daniel Armbruster endorses several factors leading to the increasing gas prices, including historical spikes during the spring months, Russia’s invasion of Ukraine, and fluctuations related to COVID-19 lockdowns in China.

“When you factor in the volatility in the market, with demand increasing due to travel and leisure, and of course, the supply chain issues related to the COVID pandemic, all of that is really pushing the price back up,” Armbruster said.

Businesses and the transportation industry are the most affected by gas price increases. The impact of their increased costs inevitably ends up factoring into the price increases that consumers are seeing.

According to AAA, gas prices rose 9% from March 2021 to March 2022. That surge was especially prevalent during the first three months of this year, with prices rising by 3%.

Despite the continually climbing price, gas in Texas remains below the national average of $4.37. Georgia drivers are paying the least at $3.90, while Californians are spending the most at $5.84 per gallon.

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