AAA: San Antonio average gas price drops, Texas on the rise

SAN ANTONIO (KTSA News) — The combination of decreased travel demand and the conclusion of Monday’s solar eclipse across parts of the nation might be saving you money at the pump.

Over the last seven days, the average price for a gallon of regular unleaded in the Alamo City has dropped more than a nickel. The current average price is now $3.08 per gallon, and that number is 9 cents less than last year’s average price of $3.17 per gallon.

“While gas prices are still on the rise, the recent data from the Energy Information Administration suggests a decline in demand following the conclusion of spring break and eclipse viewing road trips,” said AAA Texas spokesman Daniel Armbruster. “This dip in demand may exert some downward pressure on prices; however, the introduction of summer blend gasoline, known for its higher cost, complicates the situation. At this juncture, it remains uncertain where gas prices will trend in the coming days.”

The statewide gas price average in Texas is $3.22 per gallon for regular unleaded fuel. That price is five cents more than on this day last week and is four cents less per gallon compared to this day last year.

Of the major metropolitan areas surveyed in Texas, drivers in the Dallas/Fort Worth area are paying the most on average at $3.39 per gallon while drivers in Amarillo are paying the least at $3.04 per gallon. The national average price for a gallon of regular unleaded is $3.63, which is six cents more when compared to this day last week and two cents more than the price per gallon at this same time last year.

The Energy Information Administration (EIA) has released its latest report indicating a notable decrease in gasoline demand for the current week. According to the report, gasoline demand has dropped to 8.6 million barrels per day, down from 9.2 million barrels per day recorded in the previous week. Additionally, the EIA notes a slight increase in gasoline supply.

The fluctuation in demand and supply dynamics makes it challenging to predict the trajectory of gasoline prices in the near future. If the current trend of lower demand persists and supplies continue to increase, there is a possibility that recent price hikes could be tempered or even reversed. However, the ongoing transition to the more expensive summer blend gasoline adds a layer of complexity to the market dynamics.