AUSTIN (Talk1370.com) -- Prices at the pump across the Austin area ticked up slightly this week, according to AAA Texas' Weekend Gas Watch.
The average price of a gallon of regular unleaded in the Austin-San Marcos metro this week is $1.52, up two cents from a week ago and a full dollar less than this time last year.
Across the state, drivers are paying an average of $1.54, up four cents this week and $1.03 less than a year ago. Nationally, drivers are paying an average of $1.87, which is six cents higher than last week and 99 cents less than a year ago.
Analysts say pump prices continue to be volatile as the COVID-19 pandemic wreaks havoc on demand for gasoline and crude oil. However, demand is on the rise, starting to apply pressure on gas prices. "More vehicles are on the road, and that is driving gasoline demand up along with prices," said Daniel Armbruster with AAA Texas. "Though, drivers in the Lone Star State and still filling up with significantly less expense gas prices year-over-year and Texas has the 5th lowest gas price average of any state in the U.S."
U.S. Gasoline demand increased to around 7.4 million barrels per day, according to the latest report by the U.S. Energy Information Administration. That's up from the nearly 6.7 million barrels per day the week prior. The EIA also reports refinery utilization is down to 72% in the Gulf Coast region last week from 75% the week prior. At the national level, refinery utilization is down slightly week-over-week registering at 68%.
