Gas Prices In Texas Are Higher Than Ever... Again. Here's Why
By Dani Medina
May 10, 2022
Gas prices have reached an all-time high in Texas this week.
Parts of the Lone Star State have seen higher averages, like Dallas and Fort Worth at $4.145 and $4.143, respectively, WFAA reported. In Houston and Austin, average gas prices are sitting at $4.053 and $4.06, respectively. San Antonio is one of the cheapest cities with an average price of $3.994.
So why the spike in gas prices? Inflation, unfortunately.
According to WFAA, these gas prices are reflective of inflation across the state. For example, Dallas-Fort Worth saw inflation of 9% from March 2021 to March 2022, which is the largest year-to-year increase since Deemebr 1981. In a smaller time frame, from January 2022 to March 2022, the region saw a 3% price increase, which is the largest bi-monthly change since April 1980.
As of last week, gas prices have seen the largest spike — up 48% in the last year.
Looking to save at the pump? Here's the best day of the week to buy gas in Texas.