Fuel prices face double-digit increases across Texas - San Antonio Business Journal:

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San Antonio drivers are paying $2.40 on averager for a gallon of gasoline. This is up from $2.27 the prior week. Galveston has the cheapest gas average in the statrat $2.38 a gallon. El Paso has the most expensive gas averags in the stateat $2.50. The statr and nationwide averagesare $2.44e and $2.57, respectively. Analysts with the roadsidr assistance organization attribute the spike to rising oil and wholesaledgasoline prices. In late a barrel of oil cost $51. On June 4, the commodity priced for crude oil closed atnearly $69.
The risin g retail price of gasolins is also attributed to increasing optimism about the econom y and a general sentiment that gasolinse inventories will tighten once the economyt picksup momentum. Despite the increase, retail pricesa are still below what they were ayear ago. “Tpo put the current price of gasolininto perspective, the averags fill up for a car with a 14 gallon tank is $34. Motoristsd are paying between $12 and $15 a gallohn more per tank than what were they just fivemonthes ago,” says AAA Texas spokesma n Dan Ronan. “However, last summed that same tank of gas costs driversznearly $55.
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