Prices at the pump tumble to five-month-low

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HOUSTON (CW39) As you travel around the city you may have noticed gas prices continue to remain relatively low and that trend has continued now for five-months in a row.

The statewide gas price average in Texas is $1.79 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is five cents less than on this day last week and is 46 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Odessa are paying the most on average at $2.02 while drivers in Sherman-Denison are paying the least at $1.62 per gallon. The Sherman-Denison area also has the lowest gas price average of any metro area surveyed by AAA across the U.S. this week. The national average price for a gallon of regular unleaded is $2.12, which is three cents less when compared to this day last week and 49 cents less than the price per gallon at this same time last year.


The Texas statewide average price at the pump for a gallon of regular unleaded dropped to its lowest level since early June on Thursday. Furthermore, drivers in the Lone Star State have been paying below $2 a gallon for regular unleaded on average for 237 days, according to historical data from gasprices.aaa.com. COVID-19 concerns continue to keep gasoline demand levels well below last year, which has been driving pump prices lower from this time last year. Also, last week, the price for a barrel of crude oil fell to its lowest level since June – hitting $35. Crude prices have since rebounded slightly, but still trading cheaper than from this time last year and that could drive the price for gasoline down further.


“The statewide average price for a gallon of regular unleaded has fallen to its lowest level in more than five months,” said AAA Texas spokesperson Daniel Armbruster. “Road trips will be the main mode of travel this fall, but thus far demand for gasoline remains well below 2019 levels due to COVID-19 concerns.”
Drivers in Texas are paying some of the cheapest prices at the pump, ranking 2nd lowest in the country, according to gasprices.aaa.com.

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