SAN ANTONIO – Gas prices are on the rise across the San Antonio area as the gas price average for a gallon of regular unleaded fuel in San Antonio was $2.85 as of Tuesday morning, according to AAA Texas.
That’s a 9-cent increase from Monday and a 13-cent increase from just a week ago. The San Antonio average is three cents more than the statewide average of $2.82.
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Crude oil, the main ingredient in gasoline is becoming more expensive. Last week, crude prices were boosted by an unexpectedly large decline in U.S. inventories as well as data showing a sharp drop in production last week due to winter weather, according to AAA Texas.
The average price for gas is up across San Antonio. @AAAnews reports prices have gone up 13 cents from a week ago and 9 cents over the past 24 hours. The average price for gas in SA is now $2.85. pic.twitter.com/Y3xKuiKeqY
— KSAT Traffic (@ksat_traffic) January 30, 2024
Market analysts with Oil Price Information Service note that conditions could favor even higher crude oil prices in the coming weeks. When breaking down the cost of a gallon of gas, crude oil accounts for 50 - 60 percent of what we pay at the pump.
“More expensive crude oil is beginning to push retail gasoline prices higher, including here in Texas,” said Daniel Armbruster, spokesperson for AAA Texas. The best way to save on fuel is to drive a well-maintained vehicle, go the speed limit, and utilize the free AAA mobile app to find the cheapest gas near you.”