The statewide gas price average in Texas is $3.02 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent less than on this day last week and is 18 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 $3.32 per gallon while drivers in the McAllen and Brownsville/Harlingen metro areas are paying the least at $2.87 per gallon. The national average price for a gallon of regular unleaded is $3.53, which is three cents less when compared to this day last week and 23 cents less than the price per gallon at this same time last year.
For six consecutive weeks, the statewide average fuel price has been on a decline. However, there is a notable deceleration in the rate at which the price is decreasing. This can be attributed to two key factors: the persistent influence of crude oil prices and the persistent summer-like demand for gasoline. Both these factors have collectively prevented retail fuel prices from experiencing a more substantial drop. The most recent data from the Energy Information Administration indicates that gasoline supplies increased slightly week-to-week. This, coupled with the imminent switch to winter-blend gasoline, holds the potential to exert additional downward pressure on retail gas prices in the upcoming days.
"The recent decline in pump prices seems to have momentarily hit a plateau," said Daniel Armbruster, spokesperson for AAA Texas. "For the sixth consecutive week, the statewide gas price average has dipped, but only by a penny over the last week. If gasoline supplies continue to build and crude oil prices decrease, drivers may find further savings just around the corner.”
