LUBBOCK, Texas — Gasoline prices were on the rise this week due to increasing crude oil prices and a fluctuation in demand, according to a news release from AAA Texas.
The statewide average price for a gallon of regular unleaded fuel was reported at $1.649 on Saturday and trending upward.
“With many states and local officials easing restrictions surrounding COVID-19, gas and crude oil prices have been on the rise,” said AAA Texas spokesperson Daniel Armbruster. “However, the pandemic still has caused demand levels to sink much lower than in recent history.”
AAA Texas said demand has been increasing since the end of April, but it is down 28% compared to the first three weeks of May 2019.
The statewide average price bottomed out at $1.49 in early May, but it has since increased 15 cents as we get ready to close the month.
The national average price for a gallon of regular unleaded fuel was $1.974 on Saturday and was also trending upward.
In Lubbock, AAA Texas reported the average retail price was reported at $1.562 on Saturday.
The website GasBudddy.com, however, reported an average retail price of $1.54 here in the Hub City. The website also noted drives could find gas prices as low as $1.41 a gallon in Lubbock.
Compared to last Saturday, pump prices were up in the Hub City.
