Gas prices up 2 cents in Texarkana

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Gas prices in the Texarkana area rose two cents over the past week.

According to the latest data from AAA Texas, the average price for a gallon of regular unleaded gasoline jumped from $4.65 to $4.67 in Texarkana, tied with the Houston and San Antonio areas for the ninth-most expensive gas in the state of Texas. Only Dallas, Fort Worth-Arlington ($4.84), El Paso ($4.82), Sherman-Denison ($4.81), Longview ($4.72), Austin-San Marcos, Galveston-Texas City ($4.69), and College Station-Bryan ($4.68) had higher prices than the Twin Cities.

The cheapest prices can be found in the McAllen-Edinburg area where motorists are paying $4.41 per gallon on average.

The pace of pump price increases slowed this week, but price records were set in many areas. Higher gas prices are due to continued strong demand along with persistent concern over tighter global crude oil supplies with the ongoing war in Ukraine, and the world cutting off Russian oil.

Market analysts are watching how pressure from sky-high inflation and record fuel prices will impact demand in the coming weeks, noting it is possible that the recent interest rate increase by the Federal Reserve could slow demand and in turn cause gas prices to drop.

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“It’s been yet another week of record-setting gas prices around the Lone Star State as demand remains strong and market uncertainty surrounding global oil supplies continues,” said AAA Texas spokesperson Daniel Armbruster. “In order to get the best gas mileage, AAA recommends practicing safe driving habits as well as proper vehicle maintenance.

Georgia has the cheapest prices in the country at $4.50. Mississippi is second at $4.52. Arkansas has the third-cheapest prices in the nation at $4.54. Louisiana is fourth at $4.55. Texas was not in the top-10 in cheapest gas prices at $4.69.

The most expensive gas in the country in is California where drivers are paying $6.43 a gallon on average. Nevada is second at $5.67.