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AAA Texas: Gas Prices Climb as OPEC+ Announces Significant Production Cuts

Coppell, TX
gas pump bright lights

The statewide gas price average in Texas is $3.20 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is nine cents more than on this day last week and is 35 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.56 per gallon while drivers in the Brownsville-Harlingen metropolitan area are paying the least at $3.02 per gallon. The national average price for a gallon of regular unleaded is $3.87, which is nine cents more when compared to this day last week and 65 cents more than the price per gallon at this same time last year.

On Wednesday, OPEC+ announced plans to cut production by two million barrels per day. Gas prices across Texas began increasing just hours before the anticipated announcement. While it’s too early to determine how high or long retail gasoline prices will increase, the impact is expected to last through this coming weekend, possibly further.

The national gas price average had already been on the rise since mid-September due to a number of factors including refinery issues on the West Coast, a refinery fire in the Midwest and Hurricane Ian. Supplies of refined gasoline and crude oil remain tight across the U.S., as demand climbed again this week. The switchover from summer blend to the cheaper winter blend fuel has already taken place across most of the country.

“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.”

Drivers in Texas are paying the third lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in California are paying the most at $6.42 on average for a gallon over regular unleaded.

tx gas chart 10_06_2022

 

TX LOWEST 5_ 10_06_2022

 

TX HIGHEST 5_ 10_06_2022

 

Top10NATLLowestAvg_10_06_2022

 

Top10natlHIGHEST_10_06_2022

Prices up to date at press time using market prices posted at 3:41 a.m. Motorists can find current gas prices along their route with the free and revamped AAA App for iPhone, iPad and Android. The app can also be used to map a route and learn traffic conditions along that route, find discounts, locate parking, book a hotel and request and track AAA roadside assistance. Learn more at www.AAA.com/mobile.

Media Contacts

Daniel Armbruster
Media & Corporate Spokesperson , AAA Texas
512-564-3141
armbruster.daniel@aaa-texas.com
Joshua Zuber
Media Spokesperson , AAA Texas (Houston)
713-533-2946
zuber.joshua@aaa-texas.com
CST 1016202-80 Copyright © AAA Texas, LLC. All Rights Reserved.
AAA Texas is a member club affiliated with the American Automobile Association (AAA) national federation and serves members in the state of Texas (with the exception of Texarkana).