Gas Prices Soar As Texans Feel The Hit on Their Bank Accounts
Texas is experiencing a rise in gas prices, and consumers are feeling it in their finances. Especially those in El Paso, Texas.
The cost of gas has risen 12 cents in the last week. Although 12 cents in the scheme of things doesn't seem like a lot, when it comes to putting gas in your car, it adds up fast.
According to AAA, the average price of gas in Texas is $2.94 for regular unleaded. Last week at this time the price of gas was $2.82. Those Texans paying the most at the pump are El Paso, the average cost is $3.29 which is higher than the national average which is $3.28. The national average per gallon is 13 cents higher than it was last week.
The reason for the rise in prices is that the supply of gasoline has gone down by 7 million barrels.
West Texas Intermediate crude oil is $2 more than it was a month ago. If the cost of crude oil becomes more expensive, then be prepared to pay even more at the pump.
“Fuel prices will likely continue to fluctuate throughout the remainder of February and could increase as March approaches, said Daniel Armbruster, spokesperson for AAA Texas.”
On a more positive note, we are paying 14 cents less for gas than we were a year ago.
Unfortunately, it looks like the roller coaster of gas prices is going to continue. If you live paycheck to paycheck that roller coaster can mean putting a meal on the table or having gas in your car to get to work.
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