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AAA Texas: Fuel Prices Continue Downward Trend; Lowest State Gas Price Average Since December 2022

AAA Texas: Fuel Prices Continue Downward Trend; Lowest State Gas Price Average Since December 2022
The statewide gas price average in Texas is $2.68 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is seven cents less than on this day last week and is 10 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in the Bryan/College Station metro area are paying the most on average at $2.84 per gallon while drivers in the Brownsville/Harlingen metro area are paying the least at $2.58 per gallon. The national average price for a gallon of regular unleaded is $3.20, which is five cents less when compared to this day last week and 15 cents less than the price per gallon at this same time last year.

Texas still claims the lowest gas price average in the nation, and it’s been almost a whole year since prices have been this low. The statewide average for regular unleaded has hit $2.68 per gallon, matching the rate from December 27, 2022. The main reason for this drop is the $20 per barrel decrease in crude oil prices since the end of September. Since crude oil is the main ingredient in gasoline, this dip has pulled retail gas prices down. In addition, the latest data from the Energy Information Administration shows gasoline supplies are healthy.

“Gas prices are currently at their lowest point in almost a year,” said Daniel Armbruster, spokesperson for AAA Texas. “Lower crude oil prices are anticipated to translate into continued relief for consumers at the gas pump throughout December.”

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TX LOWEST 5_ 12_07_2023

 

TX HIGHEST 5_ 12_07_2023

 

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