The statewide gas price average in Texas is $3.16 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is ten cents more per gallon than it was on this day last week and is 70 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 $3.45 per gallon while drivers in Lubbock are paying the least at $2.97 per gallon. The national average price for a gallon of regular unleaded is $3.49, which is five cents more when compared to this day last week and 75 cents less than the price per gallon at this same time last year.
Even with economic fears still front-and-center for many in the oil and gas industry – the outlook for fuel demand remains strong along with crude oil supply disruptions from Kurdistan oil exports. Plus, for many, spring break travel is underway, and the summer travel season is just around the corner. According to the Energy Information Administration, fuel demand is back above 9 million barrels per day – which is usually seen during the busy summer travel months.
“Crude oil increased from the mid-$60s per barrel to over $70 in just a few days,” said AAA Texas spokesperson Daniel Armbruster. “This is in addition to the more expensive summer-blend gasoline switchover is driving retail fuel prices up week-over-week.”
Drivers in Texas are paying the ninth lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are paying the most at $4.83 on average for a gallon of regular unleaded.
Prices up to date at press time using market prices posted at 3:41 a.m. Motorists can find current gas prices along their route with the free and revamped AAA App for iPhone, iPad and Android. The app can also be used to map a route and learn traffic conditions along that route, find discounts, locate parking, book a hotel and request and track AAA roadside assistance. Learn more at www.AAA.com/mobile.