The statewide gas price average in Texas is $3.10 per gallon for 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 11 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso metro area are paying the most on average at $3.25 per gallon while drivers in Amarillo are paying the least at $2.91 per gallon. The national average price for a gallon of regular unleaded is $3.50, which is five cents more when compared to this day last week and six cents less per gallon when compared to this day last year.
According to new data from the Energy Information Administration (EIA), gas demand fell 9.38 million b/d to 8.96 last week. This demand level is about 240,000 b/d below the same week of last year. Meanwhile, total domestic gasoline stocks rose from 231.2 to 233.9 million barrels. Low gasoline demand and increasing supply may help counter higher oil costs, slowing any rise in pump prices. AAA anticipates record travel volume for Independence Day, which could cause fuel prices to fluctuate.
“We anticipate gas prices will be lower this Independence Day compared to last year,” said AAA Texas spokesperson, Daniel Armbruster. “While demand for fuel has been lower in recent weekS, it will likely pick up as AAA anticipates record travel this coming Independence Day.”
