The statewide gas price average in Texas is $2.97 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is two cents less than on this day last week and is $1.13 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 $3.18 per gallon while drivers in Amarillo are paying the least at $2.81 per gallon. The national average price for a gallon of regular unleaded is $3.38, which is two cents less when compared to this day last week and $1.22 more than the price per gallon at this same time last year.
According to the latest data from the Energy Information Administration, demand for gasoline fell week-to-week across the U.S. by nearly six percent. However, gasoline demand remains elevated from this time last year. Weekly regional fuel supply numbers increased slightly, and Gulf Coast refinery utilization remained practically flat from the week prior. Crude oil prices tumbled following news that the Omicron COVID-19 variant is spreading across the globe. West Texas Intermediate crude oil is below $70 per barrel for the first time since early September.
“Gasoline prices across much of the state are reversing their upward trend thanks to decreasing demand and falling crude oil prices,” said AAA Texas spokesperson Daniel Armbruster. “But it’s too soon to tell if fears of a global economic slowdown caused by the Omicron variant will push oil prices lower for the long term. Drivers can save on fuel by avoiding quick accelerations, riding on healthy tires and keeping their vehicle maintained in accordance with their vehicle owner’s manual.”
Drivers in Texas are paying the 2nd lowest gas price average in the country, according to gasprices.aaa.com. Oklahoma has the lowest average in the nation at $2.96 and California has the highest of any state at $4.70.
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.
To help members and non-members identify quality auto repair shops that can assist in the maintenance and repair of their vehicles, AAA offers the Approved Auto Repair program as a free public service. AAA-approved repair facilities meet and maintain high professional standards for training, equipment, cleanliness and customer service. Motorists can look for the Approved Auto Repair sign at local auto repair facilities, or search for a nearby AAA-approved shop online at AAA.com/Repair. AAA Texas branch offices throughout the state can be found by visiting www.AAA.com. Follow AAA Texas on Twitter: @AAATexas and Facebook: www.facebook.com/AAATexas.