The statewide gas price average in Texas is $2.68 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent less compared to this day last week and is nine 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 $2.93 per gallon while drivers in Lubbock are paying the least at $2.42 per gallon. The national average price for a gallon of regular unleaded is $3.06, which is two cents less when compared to this day last week and 23 cents less per gallon when compared to this day last year.
As a record number of Texans prepare to hit the road for the upcoming Thanksgiving holiday, most cities around the Lone Star State are seeing lower gas prices this week. AAA expects 5.3 million Texans to drive 50 miles or more this Thanksgiving, the highest travel volume on record for the holiday.
According to new data from the Energy Information Administration (EIA), gasoline demand dropped from 9.38 million b/d last week to 8.41. Meanwhile, total domestic gasoline stocks rose slightly from 206.9 million barrels to 208.9, while gasoline production decreased last week, averaging 9.3 million barrels daily.
“Thanksgiving travelers in Texas will pay the lowest average gas prices for this holiday since the pandemic year of 2020,” said Daniel Armbruster, AAA Texas spokesperson. “Price fluctuations remain possible as record holiday travel volume will likely put pressure on demand for fuel in the coming days.”
