COPPELL, Texas – Year to year price gap is steadily shrinking as stocks stay at a healthy level and demand stays low.
The statewide gas price average in Texas is $2.08 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is three cents less than this day last week and is 10 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 $2.34 while drivers in Sherman/Denison are paying the least at $1.92 per gallon. The national average price for a gallon of regular unleaded is $2.43, which is two cents less compared to this day last week and 16 cents more than the price per gallon at this same time last year.
Texas gas prices may be 10 cents more expensive than last year, but that price gap has been shrinking steadily. It’s the smallest year-over-year difference seen in two months. It is a similar story on a national scale where the price gap year-over-year is also dwindling. Plus, many gas stations are seeing sub $2 per gallon for regular unleaded across the Lone Star State. The last time AAA Texas reported gas prices below $2 a gallon for the whole state was back in January 2019.
“Gasoline stocks persist at a healthy level and demand remains at winter-like readings which is leading to lower gas prices,” said AAA Texas spokesperson Daniel Armbruster. “Market analysts will be watching closely, however, to see if the Organization of the Petroleum Exporting Counties (OPEC) will cut crude production due to the impact of the coronavirus on global oil demand.”
The South and Southeast regions boast the some of the least expensive gas prices averages in the country except for Florida.
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/