AAA Texas says strong demand and rising oil prices send gas prices up

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The statewide gas price average in Texas is now $2.45 for a gallon of regular unleaded fuel, the AAA Texas Weekend Gas Watch said in a news release. The price is two cents more than last week, and 20 cents more per gallon compared to this day last year.

AAA Texas explained that of the major metropolitan areas surveyed, drivers in Midland are paying the most on average at $2.69 while drivers in San Antonio are paying the least at $2.32 per gallon.

The national average price for a gallon of regular unleaded is $2.67, which is one cent more than this day last week, and 27 cents more than the price per gallon at this same time last year. AAA Texas noted that gas prices in many parts of the country have increased this week, and demand remains high.

“The national gas price average has now reached its peak from 2017 at $2.67 for a gallon of regular unleaded, Daniel Armbruster, AAA Texas/AAA New Mexico spokesperson, said in the release. “Compared to this day last year, Texans are paying 20 cents more per gallon to fill up their gas tanks. To improve fuel economy, drivers should keep the vehicle up to date on maintenance and avoid quick starts and stops on the road.”

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Domestic crude oil production broke a new record this week, with production in the lower 48 states topping 10 million barrels per day.

According to the release, market analysts say oil prices have gone up in the last three days, following Energy Information Agency (EIA) reports that crude exports hit a record high for the week ending March 30. The last record high occurred October 2017.