TEXARKANA — Gas prices have no sign of declining anytime soon.
According to new data from AAA Texas, the average price for a gallon of regular unleaded gasoline in the Texarkana area was $2.59, up seven cents from the same time a week ago. The prices are tied with the McAllen area for the 11th-highest in the state. The most expensive prices in Texas are in Midland where drivers are paying $2.86 a gallonn.
The same time a year ago, when the COVID-19 lockdowns began, prices were $2.02. Texarkana’s $2.59 per gallon average is two cents higher than Texas’ average.
The cheapest prices in the state can be found in the Sherman-Dennison area where gas prices are $2.47 per gallon. The San Antonio area is second at $2.49. The Killeen-Temple-Fort Hood area is tied with the Beaumont-Port Arthur area for third at $2.50. Fifth belongs to the Galveston-Texas City area at $2.52.
Crude oil prices are still climbing due to the decision by OPEC+ to keep production cuts in place through April. Market optimism of the impact of the stimulus package has also played a factor in higher pump prices, analysts believe.
“Gas prices are expected to keep rising in the coming days as crude oil prices climb,” said AAA Texas spokesperson Daniel Armbruster. “As a result, Texans are paying the highest gas prices in almost two years.”
The last time the statewide average was at around $2.57 was Memorial Day 2019.
The latest information from the U.S. Energy Information Administration shows refinery utilization in the U.S. at 61% in the Gulf Region, which is also a part of the reason for rising prices. The number is up from 41% the prior week.
Texas’ $2.57 gas prices are the third-cheapest in the country. Mississippi has the cheapest prices at $2.50 and Louisiana is second with $2.54. South Carolina is fourth at $2.58 with Alabama at $2.59. Arkansas is sixth in the nation at $2.61.