AAA Texas: Global Oil Supply And Demand Concerns Send Gas Prices Up

Coppell, TX Gas Prices, Monthly Fuel Prices Report, Weekly Fuel Prices Report
hand at gas pump

The statewide gas price average in Texas is $2.65 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is three cents more than this day last week and is 25 cents more 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 $3.07 while drivers in McAllen and San Antonio are paying the least at $2.58 per gallon. The national average price for a gallon of regular unleaded is $2.91, which is four cents more compared to this day last week and 38 cents more than the price per gallon at this same time last year.

Market analysts attribute the rise in gas prices to continued global supply and demand concerns as well as very expensive summertime crude oil prices. This is leading to gas prices which feel more like summer than fall. Typically, during fall, motorists are used to seeing prices drop steadily at the pump.

“This is the second week in a row gas prices have gone up during a time of year when drivers normally see them go down,” said Daniel Armbruster, AAA Texas/AAA New Mexico spokesperson. “Planning errands ahead of time, driving gently and checking your tire pressure are just a few tips AAA Texas has to help motorists improve their fuel economy.”

Most states in the South and Southwest region saw small - one to four cent - increases with the exception of Florida, which saw prices increase by 10 cents, and New Mexico, which saw pump prices jump six cents. Given that gasoline inventories in the region sit at a year-over-year surplus, the unseasonal price pump jumps are likely due to more expensive crude oil prices, which account for 50 percent of a retail price. Gas stations are just now likely passing on the increased costs of more expensive gasoline.

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. Find additional news from AAA Texas in our online newsroom at http://tx-aaa.iprsoftware.com/.

 

Area

10/04/2018

Week Ago

Week Ago Difference

Year Ago

Year Ago Difference

Date

Record Price

National

$2.91

$2.87

+0.04

$2.53

+0.38

07/17/08

$4.11

Texas

$2.65

$2.62

+0.03

$2.40

+0.25

07/17/08

$3.98

Abilene

$2.77

$2.68

+0.09

$2.39

+0.38

   

Amarillo

$2.66

$2.64

+0.02

$2.29

+0.37

07/15/08

$4.01

Austin-San Marcos

$2.64

$2.60

+0.04

$2.44

+0.20

07/17/08

$3.97

Beaumont-Port Arthur

$2.65

$2.61

+0.04

$2.37

+0.28

07/16/08

$4.00

Brownsville-Harlingen

$2.59

$2.59

0

$2.38

+0.21

   

College Station-Bryan

$2.69

$2.63

+0.06

$2.42

+0.27

   

Corpus Christi

$2.60

$2.60

0

$2.36

+0.24

07/15/08

$3.96

Dallas

$2.65

$2.66

-0.01

$2.36

+0.29

07/16/08

$3.98

El Paso

$2.85

$2.68

+0.17

$2.48

+0.37

07/17/08

$3.97

Fort Worth-Arlington

$2.64

$2.65

-0.01

$2.37

+0.27

07/16/08

$3.97

Galveston-Texas City

$2.61

$2.56

+0.05

$2.40

+0.21

07/14/08

$3.97

Houston

$2.60

$2.56

+0.04

$2.40

+0.20

07/17/08

$3.96

Killeen-Temple-Fort Hood

$2.63

$2.60

+0.03

$2.38

+0.25

   

Laredo

$2.61

$2.59

+0.02

$2.43

+0.18

   

Longview

$2.65

$2.62

+0.03

$2.36

+0.29

   

Lubbock

$2.64

$2.63

+0.01

$2.31

+0.33

   

McAllen

$2.58

$2.58

0

$2.37

+0.21

   

Midland

$3.07

$3.04

+0.03

$2.54

+0.53

   

Odessa

$3.03

$2.97

+0.06

$2.53

+0.50

   

San Angelo

$2.63

$2.57

+0.06

$2.46

+0.17

   

San Antonio

$2.58

$2.54

+0.04

$2.38

+0.20

07/16/08

$3.96

Sherman-Denison

$2.61

$2.60

+0.01

$2.31

+0.30

   

Texarkana

$2.61

$2.55

+0.06

$2.33

+0.28

07/16/08

$3.98

Tyler

$2.61

$2.57

+0.04

$2.35

+0.26

   

Victoria

$2.62

$2.59

+0.03

$2.40

+0.22

   

Waco

$2.63

$2.59

+0.04

$2.38

+0.25

   

Wichita Falls

$2.63

$2.61

+0.02

$2.37

+0.26

   

 

 

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Media Contacts

Daniel Armbruster
469-221-8217
armbruster.daniel@aaa-texas.com
Joshua Zuber
AAA Texas

713-533-2946
zuber.joshua@aaa-texas.com