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Austin gas prices dropping

(Photo:Shutterstock/Ollyy)

From this time last year, Austin's Gas prices dropped by $0.04, to an average of $2.51 per gallon. That's $0.09 cheaper than the national average but $0.03 more than the state average.

The statewide gas price average in Texas is $2.48 for a gallon of regular unleaded fuel, that price is four cents less than last week and is 53 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Dallas, Ft. Worth and Austin are paying the most on average per gallon at $2.51, while drivers in Amarillo are paying the least at $2.34 per gallon. The national average price for a gallon of regular unleaded is $2.60, which is five cents less than last week and 39 cents higher than the price per gallon at this same time last year.

As South and Southeast states recover from Hurricanes Harvey and Irma, motorists in 45 states are paying less for a gallon of gas on the week. In the South and Southeast, including Texas, all states are selling cheaper gasoline.

“Gas prices are dropping as the situation with refineries and gasoline deliveries is positively progressing,” said Sarah Schimmer, AAA Texas/AAA New Mexico Public Affairs Representative. “Analysts say pump prices may continue on this declining trend into the coming weeks as the regions affected by Irma and Harvey resume normal operations.”

The spike seen in previous weeks came as both refineries and gas stations faced outages as power was down and roads impassable. Positive progress is being seen in the Gulf Coast. According to the Department of Energy, more Gulf Coast refineries are operating than last week. In addition, ports are open and receiving steady streams of tanker shipments as officials continue to work with gasoline trucker and shippers to ensure timely delivery of product to retail stations. It will likely be a few more weeks before the regions affected by Irma and Harvey are back to normal operations. Hurricane season ends on November 30.

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