Gas Watch: Austin-area gas prices jump 15 cents this week

Talk 1370 Newsroom
June 11, 2020 - 9:24 am
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AUSTIN (Talk1370.com) -- Gas prices are continuing to rise at the pump, with Austin-area drivers paying an average of 15 cents more this week.

The latest AAA Texas Weekend Gas Watch shows Austin drivers paying an average of $1.80 a gallon for regular unleaded this week. That's 59 cents cheaper than this time last year.

Across the state, drivers are also seeing an average of $1.80 a gallon. That's up 14 cents this week and 61 cents cheaper than a year ago. Nationwide, drivers are paying an average of $2.08 a gallon, up nine cents this week and 65 cents cheaper than last year.

"Texas hasn’t seen gas prices this low at the beginning of June since 2005," said Daniel Armbruster with AAA Texas. "Demand for retail gasoline continues to rise forcing pump prices up for drivers. While gas prices are increasing, Texas has the 5th lowest gas price average of any state in the country at $1.80 per gallon."

Drivers in El Paso are paying the most on average at $1.92 a gallon, while drivers in Lubbock are paying the least at $1.70 per gallon. In fact, Lubbock has the third lowest gas price average of any city surveyed by AAA in the United States, and the Sherman-Denison area has the 4th lowest gas price average of any metro area in the U.S.

AAA Texas Gas Watch

Analysts say the combination of crude oil prices rising and gasoline demand increasing will see gas prices continue to rise, but summer prices are expected to remain below last year's levels.

Looking at gasoline demand, the Energy Information Administration’s (EIA) latest reading shows a 4% weekly increase at 7.9 million barrels per day, which is approximately 2 million barrels less than at this same time last year. However, it is the highest demand level since states began issuing stay-at-home orders in mid-March.

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