AAA Texas: Statewide gas price average down one cent as demand drops slightly, supply increases

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TEXAS (Nexstar)- The statewide gas price average is $2.58 per gallon of regular fuel, according to the AAA Texas Weekend Gas Watch.

That price is one cent less than this day last week and is $1.07 more per gallon when compared to this day last year. 

“Texas drivers are seeing some stability at the pump when compared to last week,” said AAA Texas spokesperson Daniel Armbruster. “However, market forecasts still suggest that prices will likely rise as we head into the summer driving season, but by how much remains to be seen.”

Drivers in Texas are paying some of the cheapest gas prices in the U.S. with the 2nd lowest statewide average in the country.

The national average price for a gallon of regular unleaded is $2.89, which is one cent more when compared to this day last week and $1.12 more than the price per gallon at this same time last year.

According to the latest data from the Energy Information Administration, demand for U.S. gasoline dropped back below nine million barrels per day, which was a decline of two percent week-to-week. While regional fuel supplies increased, and Gulf Coast refinery utilization registered higher as well, increasing slightly to 90 percent. Crude oil prices have also been on the rise, sitting at $65 per barrel for West Texas Intermediate. 

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