Gas Watch: Prices inch up in Austin, across Texas

Talk 1370 Newsroom
February 27, 2020 - 9:18 am

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AUSTIN (Talk1370.com) -- Gas prices across the Austin area are inching up this week, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded fuel in Austin-San Marcos is $2.15 this week, up three cents from last week and a cent higher than a year ago. Across the state, drivers are seeing a similar increase - up two cents to $2.16, also one cent less than a year ago.

Drivers in San Antonio and Laredo are seeing the state's lowest average, sitting at $2.06 a gallon, while drivers in Odessa are paying the most at $2.38.

Nationwide, the average is up one cent this week to $2.47 a gallon.

Analysts say Texas still has some of the least expensive gas price averages in the country; however, prices are up week-to-week thanks to decreased gasoline stocks and maintenance at regional refineries. Crude oil prices were on the rise until the start of this week but have since dropped.

"Gas prices are expected to fluctuate slightly over the next few weeks," said Daniel Armbruster with AAA Texas.

Crude oil prices may continue to fluctuate as concerns regarding the coronavirus are mounting. The market continues to worry that reduced global travel and a slowdown in production in China, the world’s second largest crude consuming country, will reduce crude demand this year.

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