Gas prices in Texas remain steady, but may increase before Thanksgiving

Texas

In Maryland, the average price of gasoline has risen four cents in the last week.

HOUSTON (KIAH) — Texas gas prices stayed steady from last week, but prices are up more than $1.27 from last year.

The average price for a gallon of gas in Texas is at $3.07, which stays the same from a week ago.

According to the latest data from the Energy Information Administration for the week ending Nov. 5, the U.S. gasoline demand number fell week-to-week by around three percent and remains elevated from this time last year. Weekly regional fuel supply numbers decreased slightly, and Gulf Coast refinery utilization registered up from the week prior.

AAA notes that with the time change earlier this week, shorter days could lead to lower demand for gas, and that could lead to slowly decreasing prices. Drivers may head straight home from work to avoid the darkness rather than tack on side trips for shopping or errands.

However, there may still be a brief increase in prices before the Thanksgiving holiday travel period, which is to be expected as AAA Texas anticipates near pre-pandemic levels of travel.

“Gasoline price averages will remain above $3 per gallon unless the price of crude oil, which makes up approximately 50 to 60% of the cost of retail fuel, comes down,” said AAA Texas spokesperson Daniel Armbruster. “The latest decision by OPEC and its oil-producing allies to maintain their planned gradual increase in output will not help to lessen global supply constraints or lower prices of retail fuel for U.S. drivers.”

Gas prices are Houston are $3.03, a decrease of $0.01 from last week, but an increase of $1.27 from 2020.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.28 per gallon while drivers in Amarillo are paying the least at $2.90 per gallon. The national average price for a gallon of regular unleaded is $3.42, which is one cent more when compared to this day last week and $1.30 more than the price per gallon at this same time last year.

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