The statewide gas price average in Texas is $3.34 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is seven cents less than on this day last week and is 54 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 $3.61 per gallon while drivers in the Brownsville, Harlingen and McAllen areas are paying the least at $3.20 per gallon. The national average price for a gallon of regular unleaded is $3.83, which is five cents less when compared to this day last week and 66 cents more than the price per gallon at this same time last year.
The Texas statewide gas price average fell for the 11th week in a row as the price of crude is impacted by competing headlines. Putting downward pressure on the cost of oil and gas are continued concerns for an economic slowdown in the face of inflation and rising interest rates. On the other hand, energy prices remain elevated with the war in Ukraine still ongoing. Market watchers will also have their eyes on the Atlantic and the Gulf with hurricane activity becoming recently more active. Prices at the pump may also fluctuate as the latest travel survey released by AAA Texas shows 32% of Americans plan to take a trip to enjoy the last, long weekend of the summer driving season.
“The cost for fuel is at its lowest point in six months as millions of drivers prepare to hit the road for the last weekend of summer driving season,” said AAA Texas spokesperson Daniel Armbruster. “However, crude oil prices remain sensitive to any supply or demand news with the ongoing war in Ukraine. Crude makes up approximately 60 percent of the cost of a gallon of retail gasoline.”
Drivers in Texas are paying the second lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in Hawaii are paying the most at $5.30 on average for a gallon over regular unleaded.
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.