Texas Gas Prices Hold Steady as National Average Moves Higher
| The statewide gas price average in Texas is $3.63 per gallon for regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is the same when compared to this day last week and is 85 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 $3.94 per gallon while drivers in Tyler are paying the least at $3.49 per gallon. The national average price for a gallon of regular unleaded is $4.07, which is one cent more when compared to this day last week and 92 cents more when compared to this day last year. Crude oil remains a major factor keeping pump prices elevated, with West Texas Intermediate trading in the low-$80-per-barrel range Thursday amid continued uncertainty surrounding the Strait of Hormuz. Gasoline demand has softened as the summer travel season begins to wind down, but elevated crude prices continue to limit the seasonal relief drivers typically see in August. Nationally, gasoline prices remain unusually high for this point in the summer, with this August tracking as the most expensive on record for the national average. “Texas gas prices are holding steady for now, but drivers continue to feel the impact of elevated crude oil prices,” said Daniel Armbruster, AAA Texas spokesperson. “Gasoline demand typically begins to ease as summer travel winds down, but continued uncertainty surrounding the Strait of Hormuz is keeping oil prices elevated and preventing the kind of seasonal decline we would normally expect to begin to see this time of year.”
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