|Texas gas prices skyrocketed by more than 20 cents a gallon in some metro areas this last week, but the state still has the second-cheapest gas prices in the U.S., according to AAA Texas. The statewide gas price average in Texas is $2.69 for a gallon of regular unleaded, which is 12 cents higher than last Thursday and eight cents higher than this date last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.92 per gallon while drivers in Tyler are paying the least at $2.57 per gallon. The national average price for a gallon of regular unleaded is $3.12, which is two cents more than a week ago and one cent higher than a year ago today.
Wholesale gasoline prices jumped by 20 to 25 cents earlier this week, signaling a possible end to the price decreases that have been happening in Texas and much of the U.S since August, according to Oil Price Information Service. OPIS chief analyst Tom Kloza said that late December and January tend to be volatile times for gas prices with no clear trend.
“Gas price changes really varied this week across Texas metro areas after the statewide average dropped on Monday to $2.54, its lowest level of 2023,” said AAA Texas spokesperson Daniel Armbruster. “We would expect the areas that have not yet experienced increases to start posting higher prices in coming days, unless wholesale gasoline prices reverse course and drop significantly.”