The statewide gas price average in Texas is $2.97 for a gallon of regular unleaded fuel, according to the AAA Texas Holiday Gas Watch. That price is 13 cents less than on this day last week and is four cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $3.19 per gallon while drivers in McAllen are paying the least at $2.77 per gallon. The national average price for a gallon of regular unleaded is $3.64, which is 12 cents less when compared to this day last week and 23 cents more than the price per gallon at this same time last year.
The Lone Star State gas price average fell below $3 for the first time since mid-January, according to AAA Texas gas price data. Market analysts attribute falling pump prices to sinking oil prices, with West Texas Intermediate crude (WTI) currently near/below $80 a barrel for the first time since the beginning of the year. This is, in relative terms, a welcomed sight for the 3.6 million Texas drivers predicted to hit the roads to celebrate Thanksgiving (Click here to view AAA Texas Thanksgiving Travel Forecast).
“Many drivers will be thankful to see Texas gasoline prices, which are the lowest in the nation, below $3 per gallon for the first time since January,” said AAA Texas spokesperson Daniel Armbruster. “AAA Texas will come to the rescue of more than 18,000 motorists this Thanksgiving. To avoid breakdowns and maximize fuel economy we recommend motorists have their vehicle inspected by a trusted mechanic before hitting the road.”
Drivers in Texas are paying the lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in California are paying the most at $5.20 on average for a gallon of regular unleaded.
*Due to the Thanksgiving holiday, the next AAA Texas gas report will be distributed on Thursday, December 1, 2022.