AAA Texas: Gas Prices Keep Falling as Supply Outpaces Demand

Local News

(AAA) – The statewide gas price average in Texas is $2.22 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents less than this day last week and is 24 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 $2.45 while drivers in Sherman/Denison are paying the least at $2.10 per gallon.

The national average price for a gallon of regular unleaded is $2.54, which is three cents less compared to this day last week and 27 cents more than the price per gallon at this same time last year.

Drivers across Texas and most of the country are paying less to fill-up as gasoline supply outpaces demand this winter. Prices are typically cheaper this time of year as motorists generally drive less.

Regionally, supplies continue to build, which is only helping to push pump prices lower, week-to-week.

“Gas prices usually trend lower in January as demand for fuel drops due to colder temperatures and fewer people driving,” said AAA Texas spokesperson Daniel Armbruster. “As demand drops, regional supplies continue to build, which is likely going to force prices lower.”

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