San Antonio Gas Prices Push Sharply Higher

A shocker at the gas pump today, as AAA Texas reports the price of gas in San Antonio is shooting up, even though we are in the middle of a slow travel season when prices usually fall, News Radio 1200 WOAI reports.

The average price in the city today is $2.58, up four cents just in the past week, and up a quarter a gallon from the first week of October of 2017.

AAA Texas says this is usually the time when prices slide toward their annual lows in late January, as the summer travel season is over, and the holiday season has yet to begin.

But officials say there are several reasons why prices remain elevated, and it is due to global economic conditions.

Talk of strict new sanctions against Iran has prompted fears of a shortage of gasoline, and that is pushing futures prices up.  A loss of production due to government incompetence in Venezuela, and the fact that a shortage of pipeline capacity is forcing production totals to fall in the Texas fracking fields is also pushing prices higher.

In addition, the strong economy means demand is not falling as sharply as it usually does this time of year, with business operations and business travel remaining at high levels.

There is some good news--San Antonio's gas price is the lowest in the state.  The Texas average today is $2.65, and the nationwide average is $2.91.

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