The statewide gas price average in Texas is $2.10 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is nine cents less than this day last week and is 14 cents less 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 $2.72 while drivers in Sherman-Denison are paying the least at $1.95 per gallon. The national average price for a gallon of regular unleaded is $2.44, which is seven cents less than this day last week and four cents less than the price per gallon at this same time last year.
For the first time in 18 months, the national gas price average is cheaper than one year ago. Not only is today’s national gas price average cheaper year-over-year, but also is 31-cents cheaper than a month ago, and on the week, 24 states saw gas prices drop double digits.
“Cheap crude oil prices are driving prices down at the pump,” said Joshua Zuber, AAA Texas/AAA New Mexico spokesperson. “Last week, crude dropped to its lowest point of the year at $50 a barrel. However, today’s Organization of Petroleum Exporting Countries (OPEC) meeting could cause crude oil prices to jump if the organization decides to reduce crude production.”
Gas prices are not only cheaper on the week, but also less expensive compared to a month and a year ago across the South and Southeast region. Month-over-month, motorists are seeing the largest savings – up to 30 cents or more/gallon, including Texas. To boot, every state in the region has at least a few stations selling regular unleaded for $2/gallon or less.
On the week, oil stocks drew by nearly 950,000 barrels. The draw could likely be attributed to a high number of exports since regional refinery utilization jumped to 97 percent, according to U.S. Energy Information Administration data. With utilization up, stocks are likely to build in the coming week and keep pump prices low.
Gas Price Average Comparison
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.
To help members and non-members identify quality auto repair shops that can assist in the maintenance and repair of their vehicles, AAA offers the Approved Auto Repair program as a free public service. AAA-approved repair facilities meet and maintain high professional standards for training, equipment, cleanliness and customer service. Motorists can look for the Approved Auto Repair sign at local auto repair facilities, or search for a nearby AAA-approved shop online at AAA.com/Repair. AAA Texas branch offices throughout the state can be found by visiting www.AAA.com. Follow AAA Texas on Twitter: @AAATexas and Facebook: www.facebook.com/AAATexas.