The statewide gas price average in Texas is $2.61 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch.
That price is one cent less than this day last week and is nine cents more 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 $3.04 while drivers in Lubbock are paying the least at $2.52 per gallon.
The national average price for a gallon of regular unleaded is $2.84, which is one cent less than this day last week and 18 cents more than the price per gallon at this same time last year.
Demand for gas has been strong in most places across the country, including Texas.
Regional gasoline inventories had a small increase this week. Gas prices could see bigger drops if inventories increase and demand decreases, which market analysts anticipate will occur in the coming weeks.
“Demand for gasoline has been strong all summer long, which has kept gas prices at the highest levels in about four years,” said Daniel Armbruster, AAA Texas/AAA New Mexico spokesperson. “While demand for gasoline remains strong, the switchover to winter-blend gasoline is fast approaching by the end of this week into next. This should cause gas prices to decrease, in Texas and the southern region of the United States, over the coming days.”
AAA Texas will be monitoring gas prices as Hurricane Florence heads toward the east coast. Motorists specifically in the Carolinas and Virginia could see a brief, possibly dramatic, spike in gas prices.
However, there are no current threats to U.S. refining capabilities.