The average gas price in Texas now stand at $2.70 a gallon. That’s 53 cents more than the same time last year.
As for why prices are going up after weeks of declines, Daniel Armbruster with AAA Texas said a lot has to do with world events.
“Global demand is outpacing global supply,” explained Armbruster. “And we’ve had situations of course in Venezuela. You have Iran, the sanctions that are now re-imposed in Iran. And that’s cutting down the supply that’s available across the world and so retail gas prices are going up.”
But despite the higher prices, Armbruster expects a lot of Texans to travel this summer. He said they’re actually expecting about a 5% increase over 2017.
“We have a strong economy,” added Armbruster. “Consumer confidence is up and unemployment is down and people feel they have extra disposable income to spend and to travel.”
Here in Houston the average price for a gallon of gas is $2.68. That’s up seven cents over last week.
The most expensive gas this week in in El Paso, with an average of $2.99 a gallon. Drivers can find the cheapest gas in San Antonio and Amarillo with an average of $2.60.
