Texas Gas Prices Rise 14 Cents as Oil Market Volatility Continues

Just when it was safe to come out of the summer, it's not. Just because the Labor Day holiday has passed doesn't mean a quick drop in gas prices. Unfortunately, if you were anticipating a drop after Labor Day, you were in for a shock; gas prices did the exact opposite this week.

How Much Did Texas Gas Prices Rise This Week?

According to AAA Texas, the average price of gas per gallon of regular unleaded this week is $3.83. That was a 14-cent jump from last week. El Paso is still paying the most and has broken the $4 mark; it is $4.22. The cheapest gas in the state can be found in Houston for $3.69 per gallon. Nationally, drivers are paying $4.27 per gallon.

What Are Other Texas Cities Paying?

• Amarillo: $3.81 - Last week: $3.69 - up 12 cents from last week
• Lubbock: $3.83 - Last week: $3.71 - up 12 cents from last week
• Midland: $3.96 - Last week: $3.87 - up 9 cents from last week
• Odessa: $3.95 - Last week: $3.86 - up 9 cents from last week
• Tyler: $3.72 - Last week: $3.55 - up 17 cents from last week
• Abilene: $3.77 - Last week: $3.78 - down 1 cent from last week
• El Paso: $4.22 - Last week: $3.97 - up 25 cents from last week

Abilene is the only city in Texas this week that saw a drop in prices. Here's what other Texas cities are paying.

Why Are Gas Prices Rising After Labor Day?

Daniel Armbruster, AAA Texas spokesperson, said, Prices would normally be trending lower this time of year, but continued volatility in the oil market is keeping upward pressure on gasoline prices. Drivers should be prepared for additional fluctuations in the days ahead.

Read More: Texas Gas Prices Last Week Before Labor Day Weekend

OilPrice.com shows the price per barrel for Brent Crude at $107.80, while West Texas Crude is at $102.70.

Average gasoline prices rose in nearly three out of five states over the last week, while diesel surged in every state—with some climbing nearly 50 cents per gallon in just seven days, said Patrick De Haan, head of petroleum analysis at GasBuddy.

What's Driving Oil Market Volatility?

In Patrick De Haan's Fuel Insights, he says the rise in prices correlates with the volatility after the US-Iran standoff in the Strait of Hormuz last weekend, when the US struck three Iranian oil tankers. Shipping through the Strait remains extremely restricted.

It is possible that by next week we could all be seeing prices over $4 per gallon all over Texas.