Gas prices went up five cents in the Texarkana area over the past week.
According to AAA Texas, the average price for a gallon of regular unleaded gasoline went up from $2.94 to $2.99, tied with the Abilene area for the fourth-most expensive prices in the state. Only El Paso ($3.15), Midland ($3.08), and Odessa ($3.07) had higher prices than the Twin Cities.
The cheapest prices in Texas are in Lubbock where motorists are paying $2.85 to fill up.
Gas prices have increased due to the rise in crude oil prices, which accounts for 50% to 60% of the prices. OPEC+ also decided not to increase further production, which has also contributed to the price increase.
“Texans are paying the most for retail gasoline since 2014,” said AAA Texas spokesperson Daniel Armbruster. “With more people traveling and returning to the office, demand for fuel is on the rise. Factor in surging crude oil prices due to OPEC+ forgoing further production increases and we’re seeing a trend that we’re not used to seeing in October.”
Although Texans are paying $2.93 per gallon, the prices are the cheapest in the nation. Second-cheapest belongs to Mississippi and Oklahoma at $2.95. Arkansas is fourth at $2.95. Missouri is fifth at $2.97. Sixth place goes to Kansas at $3.00. Tennessee is seventh at $3.04. Louisiana is eighth at $3.05.