AAA Texas: Gas Prices Continue Plunging as Stocks Build

News

(AAA) – The statewide gas price average in Texas is $2.37 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is six cents less than on this day last week and is 24 cents less per gallon compared to this day last year.

Of the major metropolitan areas surveyed in Texas, drivers in Midland and Odessa are paying the most on average at $2.59 while drivers in McAllen are paying the least at $2.19 per gallon.

The national average price for a gallon of regular unleaded is $2.64, which is four cents less than this day last week and 21 cents less than the price per gallon at this same time last year.

Domestic gasoline stocks built by a surprising 4.4 million barrels, according to the Energy Information Administration’s (EIA) latest data. Contributing to the build was at least 1.2 million barrels per day of imports at U.S. ports.

With the large bump, stocks now sit at levels not seen since the end of March.

 “Most Texans are saving nearly a quarter or more per gallon at the pump compared to this same time last year,” said Daniel Armbruster, AAA Texas spokesperson. “Gasoline supplies continue to increase and are now at levels not seen in five months, forcing prices lower.” The latest weekly declines continue to position the South and Southeast as the region with the cheapest gas, with 7 of the 10 least expensive averages in the country: Louisiana ($2.26), Mississippi ($2.27), South Carolina ($2.29), Alabama ($2.30), Arkansas ($2.31), Oklahoma ($2.34) and Texas ($2.37).

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More Energy

BorderReport.com

More BorderReport

Don't Miss

More Don't Miss