AUSTIN (Talk1370.com) -- Gas prices across Central Texas have shot up significantly in the past week, according to the latest numbers from AAA Texas' Weekend Gas Watch.
The average price of a gallon of regular unleaded fuel in the Austin-San Marcos metro area is up 21 cents week-over-week to $3.37 a gallon. The average is 95 cents higher than this time a year ago.
Statewide, the average rose 17 cents this week to $3.38, which is 92 cents higher than a year ago. Nationally, drivers are paying an average of $3.73, which is up 19 cents on the week and 99 cents year over year.
Around the state, drivers in El Paso are paying the most on average at $3.58 per gallon while drivers in Amarillo are paying the least at $3.24 per gallon.
The surge in gas prices in Texas and across the country is similar to the increase seen following a major hurricane, according to AAA. It's the first time the Texas statewide average has been as high as $3.38 since August 2014.
Energy markets have been volatile in recent weeks due to the war between Russia and Ukraine, causing uncertainty about Russia’s large crude oil supplies making it on to the global market. That uncertainty is causing crude oil prices to spike well over $100 a barrel and it means that gas prices will more than likely continue to rise as drivers gear up for spring travel season.
"Oil prices have skyrocketed to 11-year highs due to the volatility in global crude markets caused by Russia’s invasion of Ukraine," said AAA Texas spokesperson Daniel Armbruster. “Demand for gasoline will only increase as spring approaches and more people travel. Couple that with rising crude oil prices and drivers can expect to continue to see even higher fuel prices in the days and weeks ahead.”
Drivers in the Lone Star State are paying the third-lowest average in the country, tied with Mississippi and only bested by Arkansas and Oklahoma. California continues to see the country's highest average, at $4.75 per gallon.
