AAA Texas: Statewide pump average cheapest in the country as price of crude oil rises

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The statewide gas price average in Texas is $2.87 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents more than this day last week and is $1.01 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 $3.17 per gallon while drivers in Sherman are paying the least at $2.79 per gallon. The national average price for a gallon of regular unleaded is $3.24, which is five cents more when compared to this day last week and $1.06 more than the price per gallon at this same time last year.

According to the latest data from the Energy Information Administration for the week ending October 1, the U.S. gasoline demand number increased week-to-week and remains elevated from this time last year. Weekly regional fuel supply numbers fell slightly, and Gulf Coast refinery utilization registered up from the week prior. Drivers may see gas prices on the rise as crude oil prices had been increasing earlier this month due to the global economic uncertainty and supply chain concerns caused by the lingering COVID-19 pandemic.

“Crude oil prices have been driving up the price for gasoline recently as demand for fuel products has remained strong,” said AAA Texas spokesperson Joshua Zuber. “However, there may be some relief on the horizon as U.S. crude stocks increased last week.”

Drivers in Texas are paying the least expensive gas price average in the country, according to gasprices.aaa.com.

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