That is the question many have likely been asking after seeing gas prices in Central Texas jump by as much as around 50 cents per gallon in a matter of a couple days at some fuel stations.
“Why are gas prices so high?” asked James Norton, a retired Air Force colonel and Killeen resident.
According to Norton, his local WalMart Marketplace gas station prices jumped from $2.96 per gallon on Wednesday to $3.37 by Thursday at noon.
According to reports, there are few things that could be causing average prices to jump from $3.15 per gallon on average in Killeen on July 21 to $3.41 per gallon on Friday.
One possible explanation is a rising cost of oil, which accounts for a large chunk of the price of gasoline.
MySA.com reported Thursday that oil prices in Texas this week have gone up to around $82 per barrel. Just a couple months ago, AAA reported oil prices in the $60s range.
The San Antonio newspaper said an energy research group believes oil will be over $100 per barrel by the end of the year.
Another reason could be that in April, both Russia and Saudi Arabia-led OPEC said they would cut oil production by five million barrels per day through July, according to MySA.com.
CNN also reported this week that high heat in the U.S., Europe and elsewhere has “snarled” refinery operations.
In the area, the average price was $3.41 on Friday, which is 26 cents higher than last week’s average and 30 cents lower than it was this time last year, according to AAA.
Here’s a look at the local, state and national prices.
In Killeen on Friday, Gasbuddy.com users reported the cheapest regular gasoline selling for $3.25 per gallon at Super Quick Food Mart, 3101 W. Stan Schlueter Loop. Walmart at 3400 W. Stan Schlueter Loop reportedly was selling diesel at the cheapest price point in Killeen at $3.37 per gallon, according to GasBuddy.com users.
In Harker Heights, gas was reportedly selling for $3.37 per gallon at Murphy USA, 2010-A Heights Drive, according to GasBuddy.com users. The lowest price for diesel in Harker Heights was reportedly $3.52 at Walmart, 960 Knights Way. For those with Sam’s Club memberships, it was selling regular unleaded gas for $3.34. Sam’s Club was selling diesel at $3.45 per gallon on Friday, according to the Club website.
In Copperas Cove, the cheapest regular gas was reported as selling for $3.28 per gallon at Murphy USA, 2712 E. Business Highway 190, GasBuddy.com reported. Diesel was reportedly selling for $3.39 — at Valero, 2202 W. Business Highway 190, according to GasBuddy.com users.
The lowest-priced gasoline at Fort Cavazos was last reported as selling for $3.29 per gallon at Valero & AAFES, including 48830 Clear Creek Road, according to GasBuddy.com, but the data was from Fridayy. The price of diesel at Valero & AAFES reportedly is $3.29.
The statewide average for a gallon of regular gasoline is $3.41, which is 18 cents higher than last week and 37 cents lower than a year ago, according to AAA.
The national gas price average is $3.73 per gallon of regular gasoline, which is 14 cents higher than last week, according to the AAA website. It is 55 cents lower than a year ago.
