Gas prices soar across U.S. but ‘El Paso has fared well,’ says UTEP economist

EL PASO, Texas -- For weeks El Pasoans have been feeling the pain at the pump, but "El Paso has fared well," compared to the rest of the country according to UTEP Professor of Economics Tom Fullerton.

"We've been spared most of the supply chain disruptions that have really roiled gasoline markets in East Texas," Fullerton said.

According to AAA, the national average price for a gallon of gas is $3.30.  In El Paso., it's $3.13. Fullerton says that number is likely to fluctuate until the end of the year.

"We may get up as high as $3.50 per gallon," he said.

Fullerton said there are several things impacting prices. First is the demand. Crude oil is at an all time high as the economy recovers from the pandemic. That along with hurricanes season and other supply chain disruptions are just enough to keep things off balance.

With border restrictions being lifted soon, that means more traffic could be coming to El Paso and could impact gas prices by several cents, Fullerton estimates.

"We're likely to observe that perhaps in a little bit more pronounced fashion in November and December," Fullerton said.

"Many (Mexican) visitors that come by automobile...one of the last things they do before they return to Mexico is fill up their tanks. A lot of them regard the gasoline that's sold in El Paso as being higher quality and a little bit more reliable than what they can can purchase in Mexico."

For more tips on how to save money on gas and where you can find the cheapest gas prices in the Borderland, click here.