AAA Texas: Statewide Thanksgiving gas price average highest in eight years

News

TEXAS (Nexstar)- The statewide gas price average in Texas is $3.00 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents less than from this day last week and is $1.21 more per gallon compared to this day last year. The national average price for a gallon of regular unleaded is $3.40, which is one cent less when compared to this day last week and $1.29 more than the price per gallon at this same time last year.

With the statewide gas price average decreasing from last week, that brings a little bit of good news for drivers as AAA Texas anticipates near pre-pandemic levels of travel. AAA expects 3.9 million Texans to travel 50 miles or more for Thanksgiving. 3.6 million of them, or 92%, will drive to their destination. After stubbornly staying above $80 a barrel since Labor Day, the price of crude oil tumbled this week into the mid-$70s. However, drivers in Texas are paying the most for a gallon of regular unleaded on average since Thanksgiving 2013.

“92% of Texans who are traveling 50 miles or more for Thanksgiving will do so by car, despite higher gas prices due in large part to more expensive crude oil prices,” said AAA Texas spokesperson Daniel Armbruster. “The price of crude oil accounts for about 50% to 60% of what consumers pay at the pump, so a lower oil price should translate into better gasoline prices for drivers. However, until global oil production ramps back up to pre-pandemic levels, a recent dip in the price of crude may only be temporary.”

Drivers in Texas are paying the 2nd lowest gas price average in the country, according to gasprices.aaa.com.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss