Your car’s temperature gauge may be saying “fall,” but the gas pumps are saying “summer” after unseasonable demand has caused state and regional gas prices to spike.
The average price for a gallon of regular unleaded in Texas jumped 3 cents on the week to $2.28, AAA reported Thursday, which is 17 cents less per gallon than during this time last year. The U.S. average price increased 2 cents to $2.63 — 10 cents less than in 2018.
Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.42, while drivers in Victoria are paying the least at $2.19 per gallon.
Closer to home, drivers in the Dallas-Fort Worth region saw prices rise this week much more than across the state as a whole, with the average price in both Dallas and Fort Worth-Arlington soaring 10 cents to $2.34 a gallon.
In Denton, GasBuddy.com on Thursday listed the lowest available price as $2.10 a gallon, found at the Sam’s Club station off West University Drive. That price is a penny more per gallon than the lowest-available price last week.
Prices across the state increased week to week, AAA reported, as demand for retail gasoline increased. Gasoline demand numbers look more like summer than fall in the Energy Information Administration’s latest reports. The good news for drivers, regional refinery utilization increased as well, bumping rates to 89%. Refinery maintenance appears to be slowing, which will help to increase utilization this month and could prevent prices from spiking, according to AAA.
Crude oil prices have increased in recent days after the market expressed relief following U.S. Commerce Secretary Wilbur Ross’ announcement that the U.S. and China, the two largest oil-consuming countries in the world, are on track to complete phase one of their trade negotiations and a deal would likely be signed around mid-November. If trade tensions continue to subside, crude prices may continue to increase.