Gas Prices Increase Across Texas Following Hurricane Beryl

SAN ANGELO, TX — The statewide gas price average in Texas has risen to $3.17 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch.

This marks an increase of seven cents from a week ago and is the same price as this time last year.

San Angelo drivers are paying an average of $3.13 per gallon, reflecting a fifteen-cent increase from last week. El Paso has the highest average price at $3.45 per gallon, while Amarillo and Lubbock report the lowest at $2.97 per gallon.

Nationally, the average price for a gallon of regular unleaded fuel is $3.54, a three-cent increase from last week and identical to the price a year ago.

This slight uptick comes despite the impact of Hurricane Beryl on the Texas coast, a record number of July 4th travelers, and oil prices remaining above $80 per barrel.

“Analysts say the impact on oil production and refining from Beryl was minimal,” said AAA Texas spokesperson Doug Shupe. “Some areas saw double-digit price increases, but overall the storm did not have as big of an impact as it could have. However, we are still early in the hurricane season.”

Given how critical the Gulf of Mexico is to energy, analysts say a strong enough hurricane in the region could further and more harshly impact states like Texas and Louisiana by impacting the supply and leading to price spikes, given that those states account for a sizable portion of the country's refining power.

New data from the Energy Information Administration (EIA) reveals that gas demand slightly dipped from 9.42 million barrels per day (b/d) to 9.39 million b/d last week. Concurrently, domestic gasoline stocks decreased from 231.7 million barrels to 229.7 million barrels, while gasoline production increased, averaging 10.3 million barrels daily. This combination of tepid gasoline demand and fluctuating oil costs may result in short-term stability in pump prices.