The statewide gas price average in Texas is $3.49 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is 15 cents less than on this day last week and is 64 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in College Station and Bryan are paying the most on average at $3.72 per gallon while drivers in McAllen, Brownsville and Harlingen are paying the least at $3.19 per gallon. The national average price for a gallon of regular unleaded is $3.99, which is 15 cents less when compared to this day last week and 81 cents more than the price per gallon at this same time last year.
The national gas price average dropped below $4 per gallon overnight for the first time since March 5, 2022. Also for the eighth consecutive week, the Texas statewide fuel price average has fallen. Market analysts attribute the drop to falling crude oil prices – sitting below $100 a barrel for nearly three weeks. The cost of oil, which accounts for 60 percent of each gallon of gas, has edged lower on fears of an economic slowdown in the global economy.
“Retail gasoline prices in Texas fell for the eighth consecutive week,” said AAA Texas spokesperson Daniel Armbruster. “While gas prices will likely keep dropping in the near term, it is unclear how long the trend will last. Demand for fuel jumped seven percent across the U.S. this week and regional fuel supplies fell by around three percent.”
Drivers in Texas are paying the lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in Hawaii are paying the most at $5.39 on average for a gallon of regular unleaded.