(AAA) – The statewide gas price average in Texas is $2.11 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents less than this day last week and is 13 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 $2.38 while drivers in Sherman/Denison are paying the least at $1.96 per gallon. The national average price for a gallon of regular unleaded is $2.45, which is four cents less compared to this day last week and 17 cents more than the price per gallon at this same time last year.
Motorists are paying less to fill up, especially as crude oil prices are less expensive. Crude oil prices are about $10 less a barrel compared to the beginning of the year. Plus, market analysts cite U.S. gasoline stocks hovering around all-time highs as a contributing factor for cheaper fuel prices.
“Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month,” said AAA Texas spokesperson Daniel Armbruster. “There may be some volatility with crude oil prices, however, as many market analysts will be watching the economic impact of the coronavirus and whether the Organization of Petroleum Exporting Countries (OPEC) will consider further oil production cuts.”
Gas can be found for less than $2 a gallon at stations in every state in the South and Southeast except in Florida. In the next week, we can expect to see an increase in the amount of stations selling gas at less than $2 a gallon.