HOUSTON (KIAH) – The average price for a gallon of gas is dropping, now down to an average of $2.93 for a gallon of regular unleaded fuel in Texas.

Across the state, drivers in El Paso are paying the most on average at $3.11 per gallon while drivers in Amarillo are paying the least at $2.74 per gallon.

That price is four cents less than from this day last week and is $1.07 more per gallon compared to this day last year.

While the latest data from Energy Information Administration reveals gasoline demand number increased slightly week-to-week by around 2% and remains elevated from this time last year, the concerns of a possible COVID-19 global economic slowdown pushed oil prices into the mid-$60s per barrel last week a price not seen since August.

Also helping to ease upward pricing pressure was the decision by OPEC and its oil-producing allies not to cut production.
“Prices at the pump have been falling as crude oil prices have been fluctuating due to concerns over the COVID-19 Omicron variant,” said AAA Texas spokesperson Daniel Armbruster. “On December 2, OPEC+ announced it would stick to its plan, for now, to raise production by 400,000 barrels per day in January, which has also helped keep a lid on oil prices.”

Drivers in Texas are paying the second-lowest gas price average in the country, according to gasprices.aaa.com.

AAA Tips to save money on fuel:

  • Make sure your tires are properly maintained and inflated to the correct level.
  • Maintain your car according to the manufacturers recommendations. Regular service will ensure optimum fuel economy.
  • Avoid “jackrabbit” starts and hard acceleration. These actions greatly increase fuel consumption.
  • Slow down and drive the speed limit. Higher speeds result in more aerodynamic drag.
  • Use cruise control on the highway to help maintain a constant speed and save fuel. However, never use cruise control on slippery roads because a loss of vehicle control could result.
  • Minimize your use of air conditioning. Avoid extended idling to warm up the engine, even in colder temperatures. Its unnecessary and wastes fuel.
  • Remove unnecessary and bulky items from your car.
  • Minimize your use of roof racks and remove special carriers when not in use.