AAA – The statewide gas price average in Texas is $2.31 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch.
That price is two cents more than this day last week and is 33 cents less 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 $2.47 while drivers in Tyler are paying the least at $2.21 per gallon.
The national average price for a gallon of regular unleaded is $2.66, which is two cents more than this day last week and 21 cents less than the price per gallon at this same time last year.
Texas, along with the national average, saw a minor bump in pump prices thanks to oil market volatility and an unseasonable spike in demand, according to market analysts and the Energy Information Admiration’s (EIA) latest data sets.
“Gasoline prices continue to fall week-to-week in most metro areas in the Lone Star State,” said Joshua Zuber, AAA Texas/New Mexico spokesperson. “However, spikes at the pump in a few metro areas, such as Dallas and Fort Worth-Arlington, helped push the statewide average up a couple of pennies.”
With a build of one million barrels, the south and southeast region recouped the previous week’s gasoline stock draw and pushed total levels back over 80 million barrels.
This significant stock build should help keep gas prices relatively stable in the week ahead. Regional refinery utilization saw a small one percent decline.