Statewide gas price average soars 20 cents reaching new all-time record

Published: May. 12, 2022 at 9:09 AM CDT
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WACO, Texas (KWTX) - The AAA Texas Weekend Gas Watch has announced the the state gas price has risen by 20 cents.

The statewide gas price average in Texas is $4.10 for a gallon of regular unleaded fuel and is $1.38 more per gallon compared to this day last year.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $4.23 per gallon while drivers in Amarillo are paying the least at $3.91 per gallon.

The national average price for a gallon of regular unleaded is $4.42, which is 17 cents more when compared to this day last week and $1.41 more than the price per gallon at this same time last year.

Record pump prices reappeared this week due to the higher cost of crude oil from the tear of a global energy supply disruption due to Russia’s invasion of Ukraine outweighs the demand concerns prompted by the impact of COVID-19 on China’s economy.

The cost of a barrel of crude oil continues to exceed $100 as the market weighs the European Union imposing possible new sanctions on Russian oil.

“Drivers filling up this week likely felt sticker shock as the price for a gallon of regular unleaded shot up 20 cents over the past week to a new record high for Texas,” said AAA Texas spokesperson Daniel Armbruster. “Continued expensive gasoline prices have many consumers thinking about buying more fuel-efficient or alternative fuel vehicles, and the new AAA Car Guide produced by AAA’s Automotive Research Center is now available to help them assess their options.”

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