Last night, someone on a local DFW social media forum posted they noticed gas prices were on the move. According to the AAA Texas Weekend Gas Watch, the statewide gas price average in Texas is $3.13 per gallon for regular unleaded fuel.
That price is one penny more than on this day last week and is 18 cents less per gallon than last year. Of the major metropolitan areas surveyed in Texas, drivers in the El Paso metro area are paying the most on average at $3.24 per gallon while drivers in Amarillo are paying the least at $2.90 per gallon. The national average price for a gallon of regular unleaded is $3.52, which is two cents more than on this day last week and 11 cents less per gallon compared to last year.
According to new data from the Energy Information Administration (EIA), gas demand rose unexpectedly from 8.78 million b/d to 9.45 last week. Meanwhile, total domestic gasoline stocks fell from 233 to 227.4 million barrels. Gasoline production rose last week, averaging 10.2 million barrels per day. Higher gasoline demand but lower oil costs may keep pump prices relatively stable for now.
“In Texas, gas price averages are slightly down in some metro areas and slightly higher in others, but in all cities that we survey, the average prices are at least 10 cents a gallon cheaper compared to this time last year,” said AAA Texas spokesperson Doug Shupe. “That means Texans who will be taking end-of-summer road trips will pay less to fill up for those trips than they did last year at this time.”
