AAA Texas: Gas Prices Rise Due to Increasing Crude Oil Prices, Demand Fluctuation

Coppell, TX Gas Prices, Monthly Fuel Prices Report, Weekly Fuel Prices Report
Gas Nozzle Pump

The statewide gas price average in Texas is $1.64 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents more than this day last week and is 88 cents less 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 $1.86 while drivers in Lubbock and Sherman/Denison are paying the least at $1.55 per gallon. The national average price for a gallon of regular unleaded is $1.97, which is four cents more compared to this day last week and 86 cents less than the price per gallon at this same time last year.

After dropping to a low of $1.49 earlier this month, the statewide price has increased 15 cents, but is still significantly less expensive than the end of May 2019. The more expensive pump prices can be attributed to fluctuations in crude and demand. In the past week, crude oil hit its highest price point – nearly $34 per barrel – since the Administration declared the COVID-19 outbreak a national emergency and many states started implementing stay-at-home restrictions. While demand has been increasing since the end of April, it is down 28% compared to the first three weeks of May last year.

“With many states and local officials easing restrictions surrounding COVID-19, gas and crude oil prices have been on the rise,” said AAA Texas spokesperson Daniel Armbruster. “However, the pandemic still has caused demand levels to sink much lower than in recent history.”

Gas prices are sharing a similar story at the national level, after hitting to a low of $1.76 in April, the national gas price average is pennies away from reaching the $2/gallon mark.

Prices up to date at press time using market prices poste d 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.Find additional news from AAA Texas in our online newsroom at http://tx-aaa.iprsoftware.com/.

NATIONAL & TEXAS GAS PRICE AVERAGES

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AAA Texas Weekend Gas Watch, May 28, 2020

STATES RANKED BY LEAST EXPENSIVE GAS PRICES

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gasprices.aaa.com

 

Media Contacts

Daniel Armbruster
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).