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Texas gas price increases are due to crude oil cost

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Posted at 11:46 AM, Jun 10, 2021
and last updated 2021-06-10 12:47:29-04

WACO, TX — Texas gas prices have gone up four cents since last week, and 98 cents since today's date last year.

The current national average is $3.07 for a gallon of regular unleaded and while Texas' average sits at $2.75 prices can differ immensely between Texas cities; Motorists in El Paso are paying $3.12 compared to Amarallo drivers paying $2.64 per gallon, according to the AAA Texas Weekend Gas Watch.

While some Texans are paying cheaper gas prices, coming in at the 3rd lowest in the United States, price fluctuation is expected to continue well into the summer season depending on crude oil prices and global supply, according to AAA Texas.

“Gas prices are expected to fluctuate over the next few weeks,” said AAA Texas spokesperson Daniel Armbruster. “Higher crude oil prices will likely prop fuel prices up over the next several days.”

Crude oil makes up more than 50 percent of what drivers pay at the pump and crude prices have increased to $70 a barrel for West Texas Intermediate; but prices could decrease with production increase in the future, according to AAA Texas.

Promisingly, the Organization of the Petroleum Exporting Countries (OPEC+), announced the plan to gradually increase crude production in July, and according to the AAA this means a possible decrease in prices for drivers in the United States.