Gas prices in Texarkana spike four cents

Texarkana

Gas prices in Texarkana jumped four cents over the past week from $2.18 to $2.22.

According to data from AAA Texas, the average price for a gallon of regular unleaded gasoline in the Texarkana area rose four cents from same time last week. The prices are still the fourth-cheapest in the state of Texas. Amarillo tops the list with $2.20, and the Lubbock and Victoria areas are tied for second at $2.21.

The most expensive gas in the state is in El Paso where drivers pay $2.56 per gallon on average. Texarkana drivers are paying seven cents less than the statewide average and 37 cents less than the national average.

What caused gas prices to spike over the last week is travel due to the holidays. Christmas Eve and Christmas Day took place on Tuesday and Wednesday, and the data is released every Thursday, which also helps the figures grow. Nonetheless, market analysts predict the gas price increases are short-lived.

“Gas prices across the state increased after a record amount of travel volume for the year-end holiday period,” said Joshua Zuber, AAA Texas spokesperson. “However, market analysists suggest gas prices could decrease following the holidays.”

The Energy Information Adminstration says that regional gasoline stocks are still healthy, and the EIA is measuring the regional refinery rates at 96%.