The statewide gas price average in Texas is $3.11 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 $1.51 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 $3.47 per gallon while drivers in McAllen are paying the least at $2.97 per gallon. The national average price for a gallon of regular unleaded is $3.56, which is one cent less when compared to this day last week and $1.39 less than the price per gallon at this same time last year.
Crude oil prices have been increasing with news of Saudi Arabia planning to reduce its oil output next month. On the other hand, there are still concerns about gas and oil demand in the face of a possible economic slowdown with inflation and higher interest rates on the minds of investors. Demand was at summer-like levels over the Memorial Day holiday weekend, which continues to support the outlook of strong demand for travel over the summer months.
“While the statewide average decreased week-to-week, some areas have seen price jumps with more expensive crude oil making its way on the market,” said AAA Texas spokesperson Joshua Zuber. “As we look to the next big holiday travel weekend, Independence Day, now is the time to make sure your vehicle is well maintained before hitting the road to prevent unnecessary car trouble and improve your fuel economy.”
Drivers in Texas are paying the third lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are paying the most at $4.88 on average for a gallon of regular unleaded.
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.