AUSTIN (Talk1370.com) -- Austin-area drivers are seeing a slight increase at the pump this week, according to the latest AAA Texas Weekend Gas Watch.
The average price for a gallon of regular unleaded fuel across the Austin-San Marcos metro area is $3.76 this week, up two cents from last week and $1.26 higher than a year ago.
Drivers across the state and the nation are also seeing prices inch slightly higher, up two cents to an average of $3.77 and $4.12 respectively.
Corpus Christi drivers are seeing the state's lowest prices on average at $3.63 a gallon, while drivers in El Paso are paying the most on average at $3.94 a gallon.
Global crude oil markets continue to sort out headlines related to supply concerns as less Russian oil enters the global market. But the supply concerns are countered by fears of a COVID-induced economic slowdown in China, the world’s leading oil consumer. These opposing forces are causing crude oil prices to hover around $100 a barrel.
“As millions of Texans are planning to hit the road for a vacation this summer, retail gas prices remain $1.21 higher, on average, compared to a year ago,” said AAA Texas spokesperson Daniel Armbruster. “AAA Travel booking data shows that reservations for flights, rental cars, cruises and hotels for Memorial Day are up 122% over last year.”
Texas drivers are seeing the 8th lowest gas price average in the country, while drivers in California continue to see the nation's highest average at $5.68 a gallon.
