Gas Watch: Rising prices ease slightly this week

April 04, 2019 - 9:04 am

AUSTIN (KJCE) -- Gas prices continue to rise - but this week's increase is much smaller than recent weeks, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded fuel in the Austin area this week is $2.43, up three cents from last week. The average is also three cents higher than a year ago.

Across the state, the average price rose one cent to $2.48; nationwide, prices are up three cents to $2.71. Both averages are up five cents from this time last year.

Midland and San Antonio continue to see the state's extremes, with Midland drivers paying the highest on average at $2.67 and Alamo City drivers paying the least at $2.34 a gallon.

Since the first of the year, the nationwide average is up 45 cents; the Texas average is up 46 cents. Analysts say gasoline stocks have been steadily decreasing since early February, causing spikes at the pump that are likely to continue for the coming weeks. "Texas, along with much of the country, is feeling the pinch at the pump as prices have risen since the start of the year," said Daniel Armbruster with AAA Texas. "Demand has increased and gasoline stocks have fallen, which is a natural formula for increasing gas prices."

Inventories continue to tighten noticeably across the South and Southeast region, driving gas prices higher. Refinery maintenance, exports, and demand are all contributing factors to the continued draw in stocks.

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