AUSTIN, TX – Gasoline prices in Texas appear to be stable, although the average price of regular gasoline in the US has gone up seven cents per gallon over the past two weeks to nearly $ 2.90 a gallon – the tenth week after since last week.
Nevertheless, motorists could offset higher gas prices at the pump due to the combination of factors leading to an upward trend. According to Lundberg Survey, the nationwide price increase is the highest since November 2014, driven by higher crude oil costs and the introduction of summer gasoline to prevent smog.
Lundberg reported that the current price of $ 3 per gallon is the highest since November 201
Triple AAA Texas reports that prices at the Lone Star State are significantly lower. The current price for normal gas is $ 2.653, slightly above the average of $ 2.644 last week. The nation's lowest gasoline was $ 2.45 in Baton Rouge, La. Like last week. According to Triple AAA Texas, the national average is $ 2,866 per gallon.
Another major factor influencing gas prices: The Trump administration this week has decided to impose economic sanctions in Iran and withdraw the US from the Iran Nuclear Deal, established in 2015, under President Obama, Triple AAA Texas analysts report.
The US and five other nations – China, Germany, Russia and the European Union – all joined the deal, which lifted the economic sanctions against Iran in exchange for the Middle East agreement to reduce its nuclear arsenal. As a result of Donald Trump's decision to terminate the agreement, crude oil exports from Iran are likely to decline and contribute to an already declining supply of crude oil, analysts predicted.
Rising crude oil prices are likely to push gas prices even higher summer – a peak holiday period – at the dreaded $ 3 a gallon national average, analysts said.
Given the confluence of global factors, the average consumer can do little to protect himself from higher gas prices, as these forces are beyond his control. The cost-conscious consumer, who can cost a step, is regularly searching GasBuddy.com for the lowest gas prices in the region.
According to the site, the lowest gas prices in Austin can be found on May 12th: 19659010] Signature Fuels, 608 S Lamar Blvd., $ 2.59 a gallon.
>>> Image via Shutterstock