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Statewide Gas Prices Show Steady One-Month Decline

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The statewide gas price average in Texas is $2.32 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is seven cents less than last week and is 29 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 per gallon at $2.45, while drivers in Amarillo are paying the least at $2.21 per gallon. The national average price for a gallon of regular unleaded is $2.48, which is four cents less than last week and 23 cents higher than the price per gallon at this same time last year. Today’s national gas price average is 18 cents cheaper than a month ago.

Hurricane Nate made landfall over the Gulf Coast last weekend. Ahead of the storm, many Gulf Coast oil platforms and rigs were shut down and employees evacuated. In addition, two refineries, accounting for six percent of total Gulf Coast refining capacity, shut down. Early reports indicate that refineries did not sustain damage. Overall, motorists will see minimal to no impact to gas prices in the region hit by the storm.

“Hurricane Nate has had little impact on Texas gas prices,” said Daniel Armbruster, AAA Texas/AAA New Mexico Senior Public Affairs Specialist. “Analysts believe drivers will continue to enjoy lower gas prices as demand decreases through the fall season.”

Gas prices have fallen steadily for the past four weeks and now motorists are seeing gasoline demand drop alongside prices. The latest demand figures show the lowest since the week Hurricane Harvey hit and can likely be the beginning of a downward demand trend indicating even cheaper gas prices to come this fall, according to market analysts.

When it comes to yearly average gas price changes, Texas is ranked 10th in the nation as prices are up 29 cents from this same time in 2016. New Jersey leads the nation for average gas price change over October of last year. Gas prices in New Jersey are up 49 cents, on average, from this same time last year.

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.

 

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