he statewide gas price average in Texas is $3.12 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent less than on this day last week and is six cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.31 per gallon while drivers in Corpus Christi are paying the least at $3.02 per gallon. The national average price for a gallon of regular unleaded is $3.50, which is the same price when compared to this day last week and is ten cents more than the price per gallon at this same time last year.
Retail fuel price increases have slowed at least momentarily across Texas this week due to a large winter storm and fewer people driving. The market picture for fuel prices has changed slightly from last week. Even with higher national demand, fuel supplies remained decent and crude oil prices have fallen slightly. Market watchers are still wondering about the impact inflation and higher interest rates may have on the energy industry. New this week is the news that OPEC+ plans to stay the course with its current production plan, which put some downward pressure on crude oil prices, at least in the short-term.
“Pump price increases have cooled over the last week with fewer drivers on the road thanks in large part to this week’s winter storm,” said AAA Texas spokesperson Daniel Armbruster. “To get the best fuel economy, it’s important to remember to follow within posted speed limits, keep your vehicle well-maintained and use an app – such as the AAA mobile app – to see how much stations are charging in your area.”
Drivers in Texas are paying the lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile drivers in Hawaii are paying the most at $4.93 on average for a gallon of regular unleaded.
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 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.