AAA Texas: statewide gasoline average drops two cents as supply grows and demand decreases

The statewide gas price average in Texas is $1.90 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is two cents less than on this day last week and is 62 cents less 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 at $2.15 while drivers in the San Antonio are paying the least at $1.79 per gallon. The national average price for a gallon of regular unleaded is $2.19, which is a penny less compared to this day last week and 57 cents less than the price per gallon at this same time last year.

Pump prices around the Lone Star State are slightly less expensive from last week due to an increase in regional gasoline stocks and U.S. demand falling by nearly 100,000 barrels a day, according to the latest data from the Energy Information Administration. Analysts suggest market volatility, at the moment, is low. That means drivers could expect to see insignificant price movement over the next few weeks barring any major impacts to refinery operations from tropical weather in the Gulf of Mexico.

“While the summer driving season is underway, many drivers have not yet returned to their normal routines as COVID-19 concerns remain,” said AAA Texas spokesperson Daniel Armbruster. “It appears gasoline demand has tapered off from the beginning of the month, which could mean slightly less expensive prices at the pump.”

Drivers in Texas are paying some of the cheapest prices at the pump, ranking 5th lowest in the country. Only nine other states are paying below $2 a gallon on average.

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