HOUSTON (CW39) Prices at the pump continue to go up and experts with AAA Texas say they expect that trend to continue leading up to Memorial Day.
The statewide gas price average in Texas is $2.76 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent more than on this day last week and is $1.18 more 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 $3.00 while drivers in Amarillo are paying the least at $2.60 per gallon. The national average price for a gallon of regular unleaded is $3.04, which is one cent more when compared to this day last week and $1.13 more than the price per gallon at this same time last year.
According to the latest data from the Energy Information Administration for the week ending May 14, the U.S. gasoline demand number jumped to greater than 9.2 million barrels per day. That number is essentially pre-pandemic as the last time the EIA registered U.S. demand at 9.2 million barrels and above was in March 2020. Regional fuel supplies increased, and Gulf Coast refinery utilization registered flat from the week prior. Demand for gasoline is anticipated to remain higher than over the past year as AAA predicts millions more people are preparing for the Memorial Day holiday weekend compared to 2020.
“AAA forecasts a 60 percent jump in the number of Texans who will travel over the Memorial Day Holiday weekend,” said AAA Texas spokesperson Daniel Armbruster. “The majority of travelers will drive 50 miles or more away from home, which will likely lead to strong demand for gasoline compared to what we`ve seen over the past year.”
Drivers in Texas are paying some of the cheapest gas prices in the U.S., ranking 4th lowest in the country, according to gasprices.aaa.com.