|The statewide gas price average in Texas is $2.66 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 23 cents less 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 $2.93 per gallon while drivers in Amarillo are paying the least at $2.47 per gallon. The national average price for a gallon of regular unleaded is $3.09, which is three cents less when compared to this day last week and 17 cents less than the price per gallon at this same time last year.
Gas prices have experienced fluctuations since the period just preceding Christmas and show indications of a potential upward trajectory. The surge in travel, with over 100 million Americans opting for car journeys during the holidays, exerted additional pressure on fuel demand. Compounding this, the key component of gasoline, crude oil, is witnessing a price hike. In the past week alone, West Texas Intermediate crude has seen a nearly two percent increase. Should this trend persist, it poses the risk of translating into heightened expenses for drivers at the pump.
“Following the holiday season, gas prices have exhibited a degree of volatility, and there’s a possibility of a further ascent in the near future should crude oil prices persist in their upward trend,” said Daniel Armbruster, spokesperson for AAA Texas. “Currently, the average cost of regular unleaded gas in Texas stands approximately 23 cents below the prices recorded a year ago.”