Austin Gas Prices Still Rising, Now $2.94

By Austin Business Journal

Gas prices in Austin continued to climb this week, jumping another 3 cents to about $2.94 per gallon of regular unleaded gas, AAA Texas reported Thursday.

Statewide and nationally the price escalated 2 cents to about $2.94 and $3.09, respectively. In Austin, the price is up 34 cents from the same week in 2010, but far below the $3.97 record.

San Antonio reported the least expensive in the state this week at an average $2.92 a gallon, a 3-cent increase from last week. Dallas motorists, on the other hand, are paying the most at $2.98 a gallon, a 2 cent increase.

AAA attributed the increase to continued crude oil prices in the $90 a barrel range. Oil prices were down Thursday to about $89 a barrel. Analysts are unsure if the price will continue to fall.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/austin/news/2011/01/21/austin-gas-prices-still-rising-now.html?ana=thestreet

Copyright bizjournals.com 2010

More from Commodities

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

U.S. Drillers at Mercy of Iran, Saudi Production Spat as OPEC Meeting Begins

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Oil Prices Slide as Saudi Energy Minister Suggests OPEC Output Deal Imminent

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Goldman Is Bullish on Oil, Sees Demand Outweighing Inventory Concern

Market Bears Have Devoured Gold Prices

Market Bears Have Devoured Gold Prices

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets

Chevron Falls With Crude After Mizuho Analyst Touts Its Mega-Assets