If you’ve filled up at the pump lately in Texas, you’ll likely have noticed the price drop at the pump. It’s not your imagination, either. Gas prices in Texas continue to fall according to the American Automobile Association
. Its recent Weekend Gas Watch Report reports an average gas price in Texas of $2.11 for a gallon of regular unleaded fuel. That’s five cents less than this day last week and is 13 cents more per gallon compared to this day last year. That is also less than the national gas price average of $2.47.
Of the major metro Texas areas surveyed, Midland drivers are paying the most on average at $2.38. Drivers in Sherman/Denison are enjoying the most savings, paying just at $1.96 per gallon.
Nationwide, 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.
Why the lower prices? We can thank low crude oil prices. They 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.
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 be used to map a 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