Local gas prices have risen 3.1 cents per gallon in the past week, averaging $2.17/g over the weekend, according to GasBuddy's daily survey of 830 Austin-area stations. Prices are 21.7 cents per gallon higher than a month ago, yet stand 8.5 cents per gallon lower than a year ago.
"Gas prices continued to heat up across much of the country over the last week as every area of the country has now started the first step in transitioning to summer gasoline at the same time refiners continue maintenance," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
According to GasBuddy price reports, the cheapest station in Austin was priced at $1.99/g on Monday morning while the most expensive was $2.49/g, a difference of 50.0 cents per gallon. The lowest price in the state over the weekend was $1.86/g while the highest was $3.19/g, a difference of $1.33/g.
The cheapest price in the entire country was $1.86/g while the most expensive was $4.99/g, a difference of $3.13/g.
Neighboring areas and their current gas prices:
San Antonio- $2.14/g, up 3.1 cents per gallon from last week's $2.11/g.
Waco- $2.16/g, up 4.7 cents per gallon from last week's $2.11/g.
College Station- $2.19/g, up 3.3 cents per gallon from last week's $2.16/g.
"Looking at macroeconomics, rumors of a U.S.-China trade deal may push oil prices higher as it would likely lead to increasing economic growth rates in both countries and pushing demand for oil higher,” said DeHaan. “Since gas prices bottomed out nearly two months ago, average gas prices are up 20 cents. We may see another 20 cent hike or so over the next two months, or perhaps greater if there are any refinery kinks that arise. We'll still be in good shape for summer gas prices to be under their year ago levels, so all is not lost."