Gas Prices Rising Along with Record March Demand
The statewide gas price average in Texas is now $2.35 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is six cents more than last week and is 24 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 $2.54 while drivers in San Antonio are paying the least at $2.24 per gallon. The national average price for a gallon of regular unleaded is $2.57, which is four cents more than this day last week and 28 cents more than the price per gallon at this same time last year.
Consumer gasoline demand is at the highest level on record for March, according to the Energy Information Administration’s (EIA) latest report. Meanwhile, gasoline inventories in the U.S. are on the decline. Offline for planned maintenance the past month, Motiva’s Port Arthur, Texas, refinery has brought a processing unit back online, which will likely contribute to an increase in inventory in coming weeks.
“With demand for gasoline higher than normal for March, most drivers across Texas are seeing price increases at the gas pump,” said Daniel Armbruster, AAA Texas/AAA New Mexico Spokesperson. “While Texans are paying six cents more for a gallon of regular unleaded gas than they were a week ago, drivers in the southern region of the U.S. are seeing the cheapest prices in the country.”
Motorists are paying more to fill-up on the week in the South and Southeast regions of the United States. Despite the increases, the region continues to see some of the lowest gas prices in the country. Mississippi ($2.32), Alabama ($2.33) South Carolina ($2.34), Arkansas ($2.33), Texas ($2.35), Louisiana ($2.36) and Oklahoma ($2.38) are among the top 10 states with the least expensive gas prices in the country.