The statewide gas price average in Texas is $2.58 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents less compared to this day last week and is two cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in the Midland area are paying the most on average at $2.68 per gallon while drivers in Lubbock are paying the least at $2.39 per gallon. The national average price for a gallon of regular unleaded is $3.03, which is the same price when compared to this day last week and 11 cents less per gallon when compared to this day last year.
According to new data from the Energy Information Administration (EIA), gasoline demand increased slightly in the last week to 8.81 million barrels per day. Meanwhile, total domestic gasoline supply is also on the rise. With 2024 coming to a close, retail gasoline prices may fluctuate as record travel is expected for the year-end holiday travel period. AAA projects 119.33 million Americans will travel from December 21, 2024 to January 1, 2025. This year’s domestic travel projection narrowly surpasses the previous record set in 2019.
“Gasoline prices are going down for now,” said Daniel Armbruster, AAA Texas spokesperson. “Price fluctuations through the remainder of 2024 are possible as record year-end holiday travel volume will likely put pressure on demand for fuel in the coming days.”
