AAA Texas: Gas Prices Fall as Demand Drops and Supplies Build

News
Gasoline_1523572078638.jpg

The statewide gas price average in Texas is $2.43 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents less than on this day last week and is 20 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 $2.60 while drivers in McAllen are paying the least at $2.26 per gallon.

The national average price for a gallon of regular unleaded is $2.68, which is four cents less than this day last week and 19 cents less than the price per gallon at this same time last year.

Market analysts attribute the recent price decreases to an increase in regional refinery utilization, growing gasoline supply, and a dip in demand. Historically, Texas gas prices increase in late spring and begin to decline during the month of August as summer driving season starts to wind down.

 “As many families prepare for the beginning of another school year, demand for retail gasoline is starting to decline,” said Daniel Armbruster, AAA Texas spokesperson. “If demand continues to fall it’s likely Texans will continue to see cheaper gas prices through August as summer driving season winds down.”

Motorists in the South and Southeast saw some of the largest declines at the pump and all states in the region have cheaper gas prices on the week. In fact, four states land on the top 10 list of largest weekly changes: Florida, Georgia, Texas and South Carolina.

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 This material may not be published, broadcast, rewritten, or redistributed.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