Gas Watch: Austin pump prices jump three cents this week

May 10, 2018 - 10:18 am

AUSTIN (KJCE) -- Gas prices continued their upward trend this week, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded across the Austin area this week is $2.59, up three cents from last week and up 41 cents from this time a year ago. The statewide averages also jumped three cents to $2.63 per gallon.

Across the state's major metropolitan areas, drivers in El Paso are paying the most on average at $2.95, while drivers in San Antonio and Sherman/Denison are paying the least at $2.53 per gallon. The El Paso increase is also the largest week-to-week, up 11 cents from last week.

Nationally, the average is $2.84 per gallon, which is two cents more than this day last week and 50 cents more than the price per gallon at this same time last year.

Following the announcement that the U.S. will reinstate sanctions on Iran, crude oil prices increased. Any impact on oil prices that happens now could affect retail gas prices later this summer.

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