The statewide gas price average in Texas is $2.76 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is 10 cents more compared to this day last week and is 41 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in the El Paso area are paying the most on average at $2.92 per gallon while drivers in Tyler are paying the least at $2.64 per gallon. The national average price for a gallon of regular unleaded is $3.12, which is four cents more when compared to this day last week and 39 cents less per gallon when compared to this day last year.
Even though the price of crude oil remains below $70 a barrel, prices at the pump are going up as more refineries make the seasonal switch to summer-blend gasoline. Summer-blend gas is less likely to evaporate in warmer temperatures and is more expensive to produce.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.18 b/d last week to 8.81. Total domestic gasoline supply decreased from 241.1 million barrels to 240.6. Gasoline production increased last week, averaging 9.6 million barrels per day.
"Decreasing demand and cheaper crude oil usually lead to lower gas prices, but not this week,” said Daniel Armbruster, AAA Texas spokesperson. “Many refineries are going offline to make the seasonal switch to summer-blend gasoline, which leads to higher retail pump prices.”
