Texans already paying $4 gas prices in places. When will Dallas-Fort Worth break record?
As the national average price of gas topping $4.06 on Monday — the highest level since 2008 — Texans are seeing pump prices jump closer and closer to a record surge.
The statewide average price Monday was $3.73, up from $3.28 just a week ago. In Fort Worth-Arlington, the cost jumped more than 6 cents since Sunday, as the war in Ukraine continues to push up crude oil and other energy prices.
“Today’s Lone Star State average sits at $3.73, which is about a quarter away from the record high recorded average at $3.98 set back in July 2008,” said AAA Texas spokesperson Joshua Zuber.
But if you think that’s bad, just be thankful you don’t live in California. The average price of gas there is now $5.34 per gallon.
When will Texans see $4 gas?
Some rural West Texas counties already are paying $4 per gallon, while counties elsewhere remain below $3.50.
“We may be getting close to that $4 a gallon on average for regular unleaded fuel, but exactly how high, and when, remains to be seen,” Zuber said. “That would be a record statewide price average.”
Texas could see a $4 gas price average by late March or early April, says Patrick De Haan, head of petroleum analysis at GasBuddy.
“If the U.S. sanctions Russia’s energy sector, then you’ll get there, but for now, we’ll keep seeing prices climb toward that level,” De Haan told the Star-Telegram.
Reuters reported Monday that President Joe Biden’s administration is willing to move ahead with a ban on Russian oil imports without the participation of European allies. The White House is also negotiating with congressional leaders who are working on fast-tracking legislation banning Russian imports, Reuters reported, citing sources.
What’s contributing to rising prices?
Experts say there are four main factors that affect how much you pay: The cost of crude oil, which can fluctuate wildly due to global events; refining costs and profits; distribution, marketing and retail dealer costs and profits; and federal, state and local taxes.
Winter weather, geopolitical tension and the pandemic have all led to more expensive oil.
Which Texas counties have the most expensive gas?
At $3.72, Tarrant County’s moderately high gas prices are still lower than western counties, where averages already surpassed $4. These include:
Presidio County: $4.09
Brewster County: $4.10
Culberson County: $4.20
Hudspeth County: $4.26
Many others are nearing $4, including El Paso, Terrell and Crockett counties.
On the other end of the spectrum, the Panhandle has the lowest gas prices in the state, from $3.44 to $3.64.
Among Texas metros, Amarillo has the lowest gas price average (and the third cheapest metro average nationwide) at $3.57. El Paso has the state’s highest at $3.92.
Drivers in Houston are filling up for $3.76 per gallon, while Austin-San Marcos is still cheaper at $3.72.
Where are gas prices highest in the US?
These are the nation’s top 10 most expensive markets, according to AAA Texas:
California — $5.34
Hawaii — $4.69
Nevada — $4.59
Oregon — $4.51
Washington — $4.44
Alaska — $4.39
Illinois — $4.30
Connecticut — $4.28
New York — $4.26
Pennsylvania — $4.23
Where is gas cheapest in the US?
These are the nation’s 10 cheapest markets, with Texas ranking seventh:
Missouri — $3.63
Oklahoma — $3.65
Kansas — $3.68
Arkansas — $3.69
South Dakota — $3.70
Iowa — $3.72
Texas — $3.73
Nebraska — $3.73
North Dakota — $3.73
Wyoming — $3.74
