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AAA: Austin-area gas prices jump slightly, Texas average steady this week

May 02, 2019 - 8:40 am
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AUSTIN (Talk1370.com) -- Prices at Austin-area pumps are up an average of three cents this week, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded fuel in the Austin-San Marcos metro area this week is $2.54, up three cents this week and down two cents from this time last year.

Statewide, the average held steady week-to-week at $2.62, which is two cents higher than this time a year ago. Nationwide, prices ticked up one cent to $2.89, up seven cents from a year ago.

Across Texas, the Midland and San Antonio areas continue to be the state's extremes. Midland drivers are paying the most at $2.77 a gallon, while Alamo City drivers are paying $2.48 a gallon.

Since the beginning of the year, Texas prices are up 68 cents. A recent study from AAA says that, on average, American drivers will have to work 22% longer than they did at the beginning of the year to buy one gallon of regular unleaded.

Working with OPIS, AAA identified the median income for each county in the country broken down to an income by minute assuming a 40-hour workweek. The average gasoline price today was compared to the income per minute finding that counties in the Southeast have been hit the hardest. Some workers are working an additional 4 minutes when compared to January in order to buy a gallon of gasoline.

"While Texas gas prices are holding steady week-to-week, the slight relief is only expected to be short-lived," said Daniel Armbruster with AAA Texas.

One week after the U.S. State Department announced the end of waivers for countries to import oil from Iran, increasing crude oil prices and pump prices show no signs of slowing down. Today’s national gas price average sets a new high for the year at $2.89. This average may only be seven cents more than a year ago, but it is nearly 20 cents more than a month ago and 63-cents more expensive than at the beginning of the year.

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