The statewide gas price average in Texas is $3.42 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents more than on this day last week and is 25 cents more 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 $3.83 per gallon while drivers in the Sherman/Denison area are paying the least at $3.33 per gallon. The national average price for a gallon of regular unleaded is $3.86, which is six cents more when compared to this day last week and 16 cents more than the price per gallon at this same time last year.
Despite the end of summer driving season and higher fuel costs, fuel demand remains strong. Coupled with rising crude oil prices, this is pushing fuel price averages upward. Crude oil prices are up by nearly two dollars per barrel compared to last week, maintaining a mostly steady ascent since June's outset. Given that crude oil comprises approximately 50 to 60 percent of each gallon's cost, these elevated crude prices could hinder the typical September drop in gas prices.
"Although September usually sees gas prices decrease due to reduced demand, pump price fluctuations persist throughout the Lone Star State. Despite higher September prices, fuel demand remains strong,” said Daniel Armbruster, AAA Texas spokesperson. “The continuous rise in crude oil prices, the primary gasoline ingredient, is likely preventing the usual September decline in retail fuel prices."
Drivers in Texas are paying the third lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are paying the most at $5.50 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.