AAA Texas: Gas prices trend downward despite higher gasoline demand

AMARILLO, Texas (KAMR/KCIT) — Drivers in Texas saw a decrease in gas prices this week with an average of $3.13/gallon for regular unleaded fuel on Thursday, which is a 1-cent increase compared to last week and 18 cents less compared to this day last year, according to the AAA Texas Weekend Gas Watch.

According to AAA Texas, drivers in Amarillo are paying the least on average at $2.90/gallon which is a 3-cent decrease compared to last week and a 37-cent decrease compared to this day last year. AAA Texas reported that drivers in the El Paso metro area were paying the most on average at $3.24/gallon.

Nationally, the average price per gallon was $3.52/gallon on Thursday, marking a 2-cent increase compared to last week and 11 cents less compared to this day last year.

AAA Texas detailed that, new data from the Energy Information Administration detailed that gas demand rose unexpectedly from 8.78 million b/d to 9.45 last week however, total domestic gasoline stocks fell from 233 to 227.4 million barrels. Officials noted that gasoline production rose from last week averaging 10.2 million barrels per day and that higher gasoline demand by lower oil costs may keep pump prices relatively stable.

“In Texas, gas price averages are slightly down in some metro areas and slightly higher in others, but in all cities that we survey, the average prices are at least 10 cents a gallon cheaper compared to this time last year,” said AAA Texas spokesperson Doug Shupe. “That means Texans who will be taking end-of-summer road trips will pay less to fill up for those trips than they did last year at this time.”

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