‘Shorter’ Days May Lead to Lower Demand for Gas
Everything is more expensive these days, especially fuel. While Texans are feeling pain at the pump, Texas continues to have the 3rd lowest gas price average in the country. That’s of little comfort when Texans are paying $1.27 more per gallon compared to this day last year.
The statewide gas price average in Texas is $3.07 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.28 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 $3.42, which is one cent more when compared to this day last week and $1.30 more than the price per gallon at this same time last year.
Lower Demand Could Lead To Lower Prices
According to the latest data from the Energy Information Administration for the week ending November 5, the U.S. gasoline demand number fell week-to-week by around three percent and remains elevated from this time last year. Weekly regional fuel supply numbers decreased slightly, and Gulf Coast refinery utilization registered up from the week prior.
AAA notes that with the time change earlier this week, shorter days could lead to lower demand for gas, and that could lead to slowly decreasing prices. Drivers may head straight home from work to avoid the darkness rather than tack on side trips for shopping or errands. However, there may still be a brief increase in prices before the Thanksgiving holiday travel period, which is to be expected as AAA Texas anticipates near pre-pandemic levels of travel.
“Gasoline price averages will remain above $3 per gallon unless the price of crude oil, which makes up approximately 50 to 60% of the cost of retail fuel, comes down,” said AAA Texas spokesperson Daniel Armbruster. “The latest decision by OPEC and its oil-producing allies to maintain their planned gradual increase in output will not help to lessen global supply constraints or lower prices of retail fuel for U.S. drivers.”
Drivers in Texas are paying the 3rd lowest gas price average in the country, according to gasprices.aaa.com.
Use The AAA App For Current Gas Prices
Prices up to date at press time using market prices posted at 3:41 a.m. Motorists can find current gas prices along their route with the free and revamped AAA App for iPhone, iPad and Android. The app can also map your route and learn traffic conditions along that route, find discounts, locate parking, book a hotel and request and track AAA roadside assistance. Learn more at www.AAA.com/mobile.
To help members and non-members identify quality auto repair shops that can assist in the maintenance and repair of their vehicles, AAA offers the Approved Auto Repair program as a free public service. AAA-approved repair facilities meet and maintain high professional standards for training, equipment, cleanliness and customer service. Motorists can look for the Approved Auto Repair sign at local auto repair facilities, or search for a nearby AAA-approved shop online at AAA.com/Repair. AAA Texas branch offices throughout the state can be found by visiting www.AAA.com. Follow AAA Texas on Twitter: @AAATexas and Facebook: www.facebook.com/AAATexas.