Statewide pump price average drops a penny as supply increases, demand holds steady

The statewide gas price average in Texas is $2.59 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent less than on this day last week and is 95 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 $2.92 while drivers in the Sherman-Denison area are paying the least at $2.42 per gallon. Drivers in Walker County are paying an average of $2.63 per gallon. 

The national average price for a gallon of regular unleaded is $2.87, which is one cent less when compared to this day last week and 96 cents more than the price per gallon at this same time last year.

The price for a gallon of regular unleaded dipped slightly as demand for gasoline across the country stayed steady and regional supplies grew marginally. Refinery utilization also stayed the same week-to-week. Prices may continue to drop slowly if this pattern continues, especially as crude oil prices also remain practically flat.

“Retail fuel prices have been practically unchanged since last week,” said AAA Texas spokesperson Daniel Armbruster. “This, as demand for gasoline remained steady week-to-week.”

Drivers in Texas are paying some of the cheapest gas prices in the U.S., ranking 2nd lowest in the country, according to gasprices.aaa.com.

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