TYLER, Texas (KETK) – The statewide average price of gas in Texas reached a new record high on Thursday, according to AAA.
The current average cost around the Lone Star State sits at $4.34, eight cents more than last week, and a whopping $1.63 more than a year ago.
Drivers in El Paso are paying the most at $4.54 per gallon while Lubbock is paying the least at $4.16. However, Texas is still doing better than most states.
The national average for a gallon of gas currently sits at $4.71, which is the highest ever recorded. AAA said in a statement the spike is being driven by “the oil market watching the possibility that supplies may become tighter as COVID lockdowns ease in China and the European Union will phase in a ban of most Russian oil products.”
“New retail gas price records continue to be set across the state as crude oil prices remain elevated due to tight supplies around the globe. Prices will likely continue to fluctuate with relief likely not coming until after the busy summer travel season concludes.”AAA Texas spokesperson Daniel Armbruster