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Gas prices set record highs, threaten to be '$5 by the end of the week'

(Pexels)

Fuel costs in Austin and across the nation are record high—and they're not going down anytime soon.


Average gas prices in Travis County are sitting a hefty $4.16 per gallon, according to AAA, compared to an average of $2.70 last year. Nationwide, fuel prices are at an average of $4.48 per gallon.

The bill per gallon is the highest ever recorded in Austin but experts don’t expect a reprieve anytime soon—GasBuddy head of petroleum analysis Patrick DeHaan said to expect new records on a “near daily” basis.

"There isn’t much reason to be optimistic that we’ll see a plunge any time soon,” DeHaan said, adding to expect prices closer to $5 by the end of the week.

Why are prices climbing? DeHaan says to blame low inventory combined with high demand, more expensive blends and warming temperatures jump-starting “driving season.”

While gas prices are marginally cheaper in Williamson and Hays Counties, between $4.12-$4.13, surrounding counties are locked into the same price range.

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