Gas prices fluctuated slightly this past week. The national average for a gallon of regular gasoline is $3.16, two cents higher than last week and 29 cents cheaper than this time last year.
The statewide gas price average in Texas is $2.75 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is two cents less than one week ago and is 31 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.94 per gallon while drivers in Sherman-Denison area are paying the least at $2.62 per gallon.
Crude oil prices are hanging in the mid $60s per barrel, keeping pump prices steady. Supply remains abundant, as OPEC + - a group of oil producing countries - recently announced it will be boosting production again next month, following several other increases this year.
“As summer winds down, we anticipate a surge in travel as families take advantage of one last road trip,” said Doug Shupe, Corporate Communications Manager for AAA Texas. “For those hitting the road over Labor Day weekend, we encourage drivers to maximize fuel efficiency by ensuring their vehicles are road-trip ready—check tire pressure, perform routine maintenance, and always follow posted speed limits. Driving at higher speeds not only increases safety risks but also reduces fuel efficiency.”
