GAS PRICES

Gas prices continue to rise

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Austin gas prices have risen 4.5 cents per gallon in the past week, averaging $2.47/g on Monday, according to GasBuddy's daily survey of 830 stations. Gas prices in Austin are 21.5 cents per gallon higher than a month ago, yet stand 2.7 cents per gallon higher than a year ago.

"The national average gas price has now risen for the ninth straight week, adding 57 cents a gallon in that time and now costing Americans about $200 million more per day than it did to start the year," said Dan McTeague, senior petroleum analyst with GasBuddy." The effect of rising prices isn’t about to let up as a spate of refinery outages on the West Coast and in California has given way to a tightening of summer blended gasoline in advance of the summer driving season set to kick in in the weeks ahead." 

According to GasBuddy price reports, the cheapest station in Austin was priced at $2.28/g on Monday while the most expensive was $2.79/g, a difference of 51.0 cents per gallon. The lowest price in the state was $2.27/g while the highest was $3.29/g, a difference of $1.02/g.

The cheapest price in the entire country earlier this week was $1.82/g while the most expensive was $5.29/g, a difference of $3.47/g. The national average price of gasoline rose 7.4 cents per gallon in the last week and the national average was up 28.7 cents per gallon from a month ago.

Prices in San Antonio were up 8.8 cents per gallon from last week's $2.33/g average, while prices in College Station were up 6.5 cents per gallon from last week. 

"Even with early signs of markets reaching their heights for California-spec fuel, the damage has been done and gas prices are still playing catch up to the highs of April. With California pump prices now firmly over $4 a gallon, the march to $4.15 may be attained in the weeks ahead before any relief, while the rest of the nation faces the prospect of $3 a gallon by month’s end," said McTeague.

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