Texas Border Business
Texas Border Business
WASHINGTON — U.S. motorists are paying sharply higher prices for gasoline, diesel and motor oil as disruptions to global petroleum supplies continue to affect energy markets and consumer costs.
The national average price for regular gasoline reached $4.3289 a gallon on Sept. 15, according to AAA. Texas regular gasoline averaged $3.8558, up from $3.6726 a week earlier and $2.7876 a year ago.
Texas diesel reached a record average of $5.8814 a gallon Tuesday, compared with $5.5033 a week earlier and $3.1989 a year ago, AAA reported. Several Texas metropolitan areas were also at or near record diesel prices.
The increases come as conflict in the Middle East continues to disrupt global petroleum supplies and shipping routes. The International Energy Agency said last week that global oil supply is expected to decline by 5.7 million barrels per day in 2026 as disruptions to Gulf production and exports continue.
The pressure is also reaching store shelves.
Costco has increased the price of Kirkland Signature full-synthetic motor oil and imposed purchase limits, according to the Associated Press. A two-pack containing two five-quart bottles now costs about $58, compared with about $30 last year. Customers are limited to two boxes per week, and Costco has also limited purchases of Mobil 1 motor oil.
The Associated Press reported that refiners are concentrating on producing gasoline and diesel because of strong demand, potentially reducing the availability of petroleum products used to manufacture motor oil.
Oil prices remained above $100 a barrel Tuesday as attacks and disruptions to major Middle East oil routes raised concerns about global supplies.
Reuters reported Brent crude at $105.74 a barrel on Sept. 15, while U.S. West Texas Intermediate crude stood at $101.66. Brent had traded as high as $108.43 earlier in the session.
The latest pressure followed attacks on Saudi Arabia’s East-West Pipeline, an important route that allows oil exports to bypass the Strait of Hormuz. Reuters reported that the pipeline shutdown increased concerns about Saudi export capacity and the availability of global supplies.
The latest AAA figures show the impact reaching Texas motorists. Regular gasoline in the state is more than $1 a gallon higher than a year ago, while diesel is more than $2.68 higher.
