The statewide gas price average in Texas is $3.12 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is six cents less than on this day last week and is five 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 $3.32 per gallon while drivers in Lubbock are paying the least at $2.91 per gallon. The national average price for a gallon of regular unleaded is $3.51, which is three cents less when compared to this day last week and five cents less per gallon when compared to this day last year.
According to recent data from the Energy Information Administration (EIA), gas demand has dropped to 8.7 million barrels per day. Overall, fuel demand this season is approximately one percent lower than last summer. Concurrently, the supply of gasoline has increased week-to-week. With demand decreasing and supply rising, gas prices may continue to decline through July.
"Gas price averages are slightly lower compared to one year ago," said AAA Texas spokesperson Daniel Armbruster. "Demand for fuel is down week-to-week while supplies have increased."
