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Gas-prices soar

The Groesbeck Journal of Groesbeck, Texas

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Turmoil and political unrest spreading across oil producing nations in North Africa and the Middle East are to blame for a surge in gas prices that's hitting Americans hard.

Oil prices soared nearly $20 a barrel in the past week as a political rebellion in Libya expanded, according to Associated Press reports. Oil hit $100 per barrel last Wednesday for the first time in 21/years as the unrest worsened, and gas prices across America soared to all-time highs for February. The next day, West Texas Intermediate crude climbed as high as $103.41 before falling back below $98. The benchmark crude has soared 18 percent since Valentine's Day, AP reports stated.

As the turmoil in the oil-producing nations has grown, gas prices have exploded.

At noon on Sunday, the national average for a gallon of regular-grade gasoline was $3.35, and the Texas average was $3.22, according to AAA's daily survey of 100,000 gas stations in the United States.

The price for a gallon of regular-grade gas was $3.29 at all seven convenience stores in Groesbeck that sell fuel.

The prices in Groesbeck and nearby cities were higher than the averages for any metroplex in Texas listed in the survey.

According to AAA, gas prices around the state at noon Sunday included an average of $3.24 per gallon of regular-grade fuel in Amarillo, $3.20 in the Austin and San Marcos areas, $3.22 in the Beaumont and Port Arthur areas, $3.19 in Corpus Christi, $3.22 in Dallas, $3.28 in El Paso, $3.22 in the

Arlington and Fort Worth area and $3.20 in Houston.

A sampling of gas stations in and around Limestone County at mid-day Sunday found prices at $3.27 at the CEFCO station at 304 E. Milam in Mexia and at Debbie's One Stop in Coolidge, $3.28 at Stoney's Market in Jewett and $3.28 at Tigermart in Buffalo.

Fueled by political unrest on the other side of the world, U.S. fuel prices are hitting all-time highs for February, according to AAA



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Original Publication Date: March 3, 2011



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