Just when you started managing the rising gas prices and thought they leveled out, well I've got bad news for you.

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Gas prices will once again be rising.

Gas prices were already on the rise because of Hurricane Ian.  However, according to AAA Texas, OPEC+ announced plans to cut production by two million barrels per day.  The rising prices are expected to last through next week and possibly longer.

Gas prices at the pump
Tight supplies, climbing demand and OPEC+’s announcement to cutback output by two million barrels per day are putting upward pressure on retail gas prices,” said AAA Texas spokesperson Daniel Armbruster. “It’s too early to determine how strong of an impact the production cuts will have on pump prices. However, prices in Texas started increasing just hours ahead of the anticipated announcement and will likely continue to move upwards through the weekend.

This isn't ideal since we are about to find ourselves in the holiday season and high gas prices mean less money to spend on holiday items and traveling.  If people cannot spend during the holiday season, then this affects the economy all around.

Right now the statewide average in Texas for gas is $3.30 a gallon.  In the Amarillo area, the average cost is $3.38 per gallon.  A week ago we were averaging $3.33 per gallon and last year at this time, we were paying $2.74 per gallon.

AAA Texas
AAA Texas
AAA Texas
AAA Texas

I guess we better get ready to drive as little as possible for the foreseeable future if we want to save our money for other things.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

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