Gas prices in North Texas surged over the last week, according to data from AAA, as the country feels the impact of the war in Iran.
Regular unleaded reached an average of about $3.35, up from $2.80 a week ago and $2.77 a year ago, according to AAA's data. In Fort Worth and Arlington, the average was about $3.31, up from about $2.80 last week and and $2.78 a year ago.
That's higher than the statewide average of $3.20 per gallon, up from $2.74 a week ago and $2.70 a year ago. The Dallas-Fort Worth area is experiencing an even higher average today at $3.19 per gallon, compared to $2.62 just last week.
Texas prices are still lower than the national average of $3.40.
The war in Iran caused crude oil, the main ingredient in gasoline, to jump above $100 a barrel for the first time since the summer of 2022. U.S. benchmark West Texas Intermediate crude rose to nearly $120 dollars a barrel this week before sliding back around $84 by Tuesday.
That creates a domino effect on the global market, driving up the price for crude and, subsequently, retail gas prices in the United States.
“When you look at the global tensions, of course, that's contributing to the increase in the cost,” said Daniel Armbruster, a spokesperson for AAA Texas. “Certainly the events in Iran, since that occurred, we have seen an increase in crude oil prices as well as retail gas prices.”
On top of that, Armbruster noted increased seasonal demand.
“Spring break road trips are coming up,” Armbruster said. “So it's kind of just a culmination of several factors with, of course, the events in Iran being the biggest.”
Iran has targeted oil-producing infrastructure in Kuwait and Saudi Arabia, further reducing oil exports from the region.
The country also shut down the Strait of Hormuz — a crucial shipping point for oil coming out of the Persian gulf. It’s a move the U.S. didn’t prepare for, Ed Hirs, energy fellow at the University of Houston, told Houston Public Media this week.
“It’s stunning that the U.S. military left this exposed," Hirs said. "This has been the critical chokepoint for global oil markets, for the global economy for decades. We’ve all known this was a possibility, a probability and a likelihood. "
Houston Public Media's Alexandra Hart contributed to this report.
Alexsis Jones is a reporter and producer for KERA News. Got a tip? Email Alexsis at ajones@kera.org.
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