Gas prices likely to reach $3 a gallon this summer in Central Texas

Austin

AUSTIN (KXAN) — Central Texas drivers will be paying more at the pump this Memorial Day weekend. The average price is currently around $2.73 a gallon in the Austin area, which is about 60 cents higher than last year’s average over the holiday weekend.

“It’s definitely a little bit of pain at the pump,” said AAA spokesman Daniel Armbruster. “Drivers are going to pay a little bit more, but the most interesting thing is even though drivers are going to have to pay more at the pump this Memorial Day, we’re expecting a five percent increase in the number of people that are going to be driving on the roads in Texas.”

Armbruster says the prices will keep climbing in June.

“In the coming weeks, most market analysts anticipate that the national average will jump over $3 a gallon,” he said.

Armbruster says that means in Central Texas, where drivers usually pay less than the national average, prices will probably reach $3 a gallon.

Three Texas cities — El Paso, Midland and Odessa — are already paying that much.

Armbruster says the high prices are the result of a shrinking oil supply internationally.

“Oil prices have been surging in the past few weeks,” he said. “And then supply and demand, that’s really playing into what we’re going to see as far as summer gas prices.”

Currently, the Texas average of $2.76 a gallon is still 20 cents below the national average.

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