Gas Prices Drop Ahead of Expected Record Holiday Travel
The statewide gas price average in Texas is now $2.65 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents less than last week and is 60 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $3.08 while drivers in Brownsville and Harlingen are paying the least at $2.48 per gallon. The national average price for a gallon of regular unleaded is $2.85, which is two cents less than this day last week and 60 cents more than the price per gallon at this same time last year.
Gas prices in Texas and many parts of the country have consistently been declining since Memorial Day. In fact, Texas was tied for 10th place among states with the largest weekly average price decrease. However, increased demand over the 4th of July holiday period could slow the declining trend or possibly cause prices to tick back up slightly in the coming days, according to market analysts. Nonetheless, many Texas motorists will enjoy some relief at the pump as they hit the roads in the coming days.
AAA Texas forecasts that a record 2.9 million Texans will drive to their destination during the Independence Day holiday period, which runs from July 3, 2018 to July 8, 2018. 3.4 million Texans total are expected to travel either by car, plane, bus, cruise or train over the holiday period. For more information on the AAA Independence Day holiday travel forecast, click here.
“AAA Texas forecasts a record 2.9 million Texans will travel 50 miles or more away from home this Independence Day holiday. With the statewide gas price average dropping four cents week-to-week many drivers will enjoy some relief at the gas pump,” said Daniel Armbruster, AAA Texas/AAA New Mexico Spokesperson. “Before hitting the road, all drivers can download the AAA mobile app for free to find the lowest gas prices on their route. AAA Texas reminds drivers to never drive intoxicated or intexticated as both have deadly consequences.”
While gas prices are trending downward in many parts of the south and southeastern region of the U.S., prices are 49 to 70 cents more expensive compared to this time last year.Domestic and global demand for crude from the U.S. remains high as OPEC works to increase the amount it supplies around the world.
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.