The statewide gas price average in Texas is $1.54 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is four cents more compared to this day last week and is $1.03 less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $1.73 while drivers in McAllen are paying the least at $1.40 per gallon. The national average price for a gallon of regular unleaded is $1.87, which is six cents more compared to this day last week and 99 cents less than the price per gallon at this same time last year.
Pump prices are volatile as COVID-19 continues to wreak havoc on gas and crude oil demand. However, with more people returning to work, and some stay-at-home restrictions easing, gasoline demand is on the rise. Therefore, gas prices are going up as well. Drivers in Texas and still playing some of the least expensive prices for gas, coming in fifth place on AAA’s top ten cheapest gas price index.
“More vehicles are on the road, and that is driving gasoline demand up along with prices,” said AAA Texas spokesperson Daniel Armbruster. “Though, drivers in the Lone Star State and still filling up with significantly less expense gas prices year-over-year and Texas has the 5th lowest gas price average of any state in the U.S.”
U.S. Gasoline demand increased to around 7.4 million barrels per day, according to the latest report by the U.S. Energy Information Administration. That’s up from the nearly 6.7 million barrels per day the week prior. The EIA also reports refinery utilization is down to 72% in the Gulf Coast region last week from 75% the week prior. At the national level, refinery utilization is down slightly week-over-week registering at 68%.