AAA Texas: Gas Prices Post Mixed Signals Statewide as Summer Driving Season Gains Momentum
The statewide gas price average in Texas is $2.75 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is the same as last week and is 29 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Dallas are paying the most on average at $2.93 per gallon while drivers in the Waco and Killeen-Temple-Fort Hood areas are paying the least at $2.63 per gallon. The national average price for a gallon of regular unleaded is $3.14, which is two cents less than last week and 36 cents less per gallon than this time last year.
Crude oil prices have remained steady in the low $60s per barrel, helping to keep pump prices lower even as summer travel demand increases. Gasoline inventories remain healthy, and increased production is meeting the seasonal rise in consumption. Drivers are expected to benefit from lower prices throughout the summer, though the Atlantic hurricane season could still play a disruptive role. NOAA predicts a 60% chance of an above-normal hurricane season, and any storms that impact the Gulf Coast could affect refinery operations and fuel distribution, leading to temporary price spikes.
“Texas gas prices posted a mix of local increases and decreases that added up to an unchanged statewide average over the past week,” said Daniel Armbruster, AAA Texas spokesperson. “Crude oil prices have held steady, helping to keep average prices under $3 a gallon statewide even as demand rises. Crude oil is the main ingredient in gasoline and makes up approximately 50 percent of the cost of each gallon of fuel.”
