Statewide gas price average jumps six cents week-over-week; Memorial Day pump prices cheapest since 2003
The statewide gas price average in Texas is $1.60 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is six cents more than on this day last week and 97 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 $1.76 while drivers in Tyler are paying the least at $1.48 per gallon. The national average price for a gallon of regular unleaded is $1.93, which is six cents more compared to this day last week and 91 cents less than the price per gallon at this same time last year.
As the Memorial Day Holiday weekend approaches, gas prices are on the rise, however, historical AAA gas price data shows drivers are filling up with the cheapest gas for this holiday weekend in almost two decades. The statewide average on Memorial Day in 2003 was $1.39 for a gallon of regular unleaded. This price drop to multi-year lows is due to the COVID-19 pandemic’s impact on gasoline and crude oil demand as many continue to stay home. Because of this, for the first time in 20 years, AAA will not issue a Memorial Day travel forecast due to COVID-19 impacts on the underlying economic data used to create the forecast.
“Even with a holiday weekend just ahead, COVID-19 continues to create demand destruction around the state and country,” said AAA Texas spokesperson Daniel Armbruster. “Drivers can expect pump prices to push slightly higher in the days ahead due to rising gasoline demand as some states are lifting stay-at-home restrictions and crude oil prices increase.”
This week, the Environmental Protection Agency’s waiver on the sale of winter-blend gasoline will come to an end. Stations will switch over to summer-blend gasoline, which has a lower Reid Vapor Pressure to prevent excessive evaporation when outside temperatures rise. Reducing the volatility of summer gas decreases emissions that contribute to unhealthy ozone and smog levels. Typically, the switchover to summer-blend can cause gas prices to spike during the summer driving season, but that will likely not be the case this year due to the impact of COVID-19 on demand and crude oil prices.
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.Find additional news from AAA Texas in our online newsroom at http://tx-aaa.iprsoftware.com/.