The statewide gas price average in Texas is $2.71 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is 10 cents less than on this day last week and is 32 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.04 per gallon while drivers in Lubbock are paying the least at $2.59 per gallon. The national average price for a gallon of regular unleaded is $3.15, which is five cents less when compared to this day last week and 39 cents less per gallon when compared to this day last year.
According to the Energy Information Administration, supply of crude oil and refined gasoline stocks are increasing. EIA data estimates that U.S. crude oil stocks are up by 5.5 million barrels and U.S. gasoline inventories rose by 900,000 barrels. Meanwhile, demand is leveling out following Hurricanes Helene and Milton. If supplies remain healthy and demand continues on typical fall patterns, gasoline prices will likely continue to decline.
“The statewide gas price average dropped 10 cents per gallon this week,” said Daniel Armbruster, AAA Texas spokesperson. “Fuel prices could decline even further as supplies remain healthy and demand is settling into typical autumn patterns.”
