AAA Texas: Gas prices climb ahead of Independence Day

AMARILLO, Texas (KAMR/KCIT) — Drivers in Texas saw an increase in gas prices this week with an average of $3.10/gallon for regular unleaded fuel on Thursday, which is a 5-cent increase compared to last week and 11 cents less compared to last year, according to the AAA Texas Weekend Gas Watch.

According to AAA Texas, drivers in Amarillo were paying the least on average of $2.91/gallon for gas with prices staying stagnant compared to last week. AAA Texas reported that drivers in El Paso were paying the most on average at $3.25/gallon.

Nationally, the average price per gallon was $3.50/gallon on Thursday, marking a 5-cent increase compared to last week and a 6-cent decrease compared to this day last year.

According to AAA Texas, gas demand fell 9.38 million b/d to 8.96 last week which is about 240,000 b/d below the same week of last year. Officials also noted the total domestic gasoline stocks rose from 231.2 to 233.9 million barrels. AAA officials stated that low gasoline demand and increasing supply may help with countering higher oil costs slowing any rise in pump prices, however, AAA expects prices to fluctuate due to the Independence Day travel volume.

“We anticipate gas prices will be lower this Independence Day compared to last year,” said AAA Texas spokesperson, Daniel Armbruster. “While demand for fuel has been lower in recent weeks, it will likely pick up as AAA anticipates record travel this coming Independence Day.”

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