AUSTIN (Talk1370.com) -- Increasing demand is sending prices up at Austin-area gas pumps, according to the latest AAA Texas Weekend Gas Watch.
The average price for a gallon of regular unleaded in the Austin metro is $1.89 this week, up five cents from last week and 33 cents cheaper than a year ago. Across the state, prices are also up five cents on average this week to $1.91 a gallon, which is 32 cents cheaper than a year ago. It's the highest the statewide average has been since early September.
Drivers in El Paso are paying the most on average at $2.16 a gallon, while drivers in Sherman/Denison are paying the least at $1.81.
Across the country, the national average is up four cents this week to $2.20. That's 35 cents cheaper than a year ago.
Analysts say the price increase is due to a near 5 percent jump in demand for retail gasoline across the country. Weekly gasoline inventories remained relatively steady and crude oil prices have been creeping upward to above $48 a barrel (WTI). Crude prices have been increasing on the news that the U.S. government has begun distributing COVID-19 vaccines to U.S. healthcare workers, according to Oil Price Information Service.
"Increasing demand for gasoline and rising crude prices are primary factors for climbing prices at the pump," said Daniel Armbruster with AAA Texas. "COVID-19 concerns are still keeping demand far lower than last year, which has held the average price for a gallon of regular unleaded in Texas to under $2 per gallon for the majority of 2020."
Drivers in Texas are paying some of the cheapest prices at the pump, ranking 3rd lowest in the country, according to gasprices.aaa.com.
