High gas prices eating into Texans’ budgets

The average price for a gallon of gasoline in Texas has risen from $2.55 in early February to $3.91 as of Sunday, according to AAA. Diesel prices hover around $5 a gallon. The average Texan now spends $233 a month on gasoline, according to a study reported in The Texas Tribune.

“It’s all crazy,” Victor Cortez, a 40-yearold Austin construction worker, said while filling up his pickup. “It depends on the day; some days I’m moving to three or four buildings and spending 100 bucks a day.”

The steep climb in prices comes as a result of the war with Iran, which began in February. The closure of the Strait of Hormuz, through which 20% of the world’s oil passes, has caused a sharp increase in oil prices. The price of a barrel of Brent crude, the world benchmark, was $114 on May 3, up from about $70 a barrel before the war began.