Texas Gas Prices Show 5th Straight Week of Declines
The statewide gas price average in Texas is $2.26 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is six cents less than last week and is 22 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 $2.40, while drivers in Texarkana are paying the least at $2.18 per gallon. The national average price for a gallon of regular unleaded is $2.46, which is two 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 15 cents cheaper than a month ago.
While gas prices are more expensive than a year ago, the past five weeks of sustained weekly declines indicate that demand may be leveling out alongside refineries and pipelines returning to pre-hurricane operations.
“Gas stations across Texas are steadily dropping pump prices for the majority of motorists,” said Daniel Armbruster, AAA Texas/AAA New Mexico Senior Public Affairs Specialist. “Drivers will see stabilized or decreasing prices at the pump throughout this month due to high refinery production rates and decreasing seasonal demand.”
Gas prices have fallen steadily for the past five weeks and now motorists are seeing gasoline demand drop alongside prices. In September, Hurricane Harvey drove gas prices to the highest price of the year - $2.67. That was a 32-cent increase inside of 12 days. Now nearly seven weeks post hurricane, gas prices have shown steady decline.
While the South and Southeast tout the largest inventory of any region in the country, levels are below pre-Harvey rates and levels this time last year. As inventories continue to build, market analysts anticipate that motorists will see gas prices continue to drop.
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.