The statewide gas price average in Texas is $3.02 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent less than on this day last week and is 19 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 $3.40 per gallon while drivers in Sherman-Denison are paying the least at $2.93 per gallon. The national average price for a gallon of regular unleaded is $3.42, which is two cents less when compared to this day last week and nine cents less than the price per gallon at this same time last year.
Volatility in the crude oil market has resulted in price fluctuations around the state with some areas lower than last week while others are higher. Oil and gasoline markets remain conflicted between balancing supply and demand forces in the face of a possible slowdown over economic concerns domestically, while optimism for increased international consumption is on the minds of analysts.
“While crude oil has remained under $80 a barrel, it has been fluctuating in a wide range between $70 and just under $80 a barrel,” said AAA Texas spokesperson Joshua Zuber. “Keeping your vehicle well-maintained and practicing safe driving habits can help improve your fuel economy.”
Drivers in Texas are paying the lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in Hawaii are paying the most at $4.89 on average for a gallon of regular unleaded.