AAA Texas: Gas prices drop as summer travel season nears

SAN ANTONIO (KTSA News) — A recent trend showing falling gas prices across Texas continues, and that includes a break for drivers in the San Antonio area.

The statewide gas price average in Texas is $3.12 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is 11 cents less than on this day last week and is 76 cents less per gallon compared to this day last year.

The Alamo City went from an average price of $3.18 per gallon for regular unleaded a week ago to $3.06 right now.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.36 per gallon while drivers in McAllen are paying the least at $2.88 per gallon. The national average price for a gallon of regular unleaded is $3.57, which is seven cents less when compared to this day last week and 66 cents less than the price per gallon at this same time last year.

Crude oil prices continue to tumble as concerns of an economic slowdown persist along with the Federal Reserve raising interest rates again. Demand also dropped across the country while regional fuel supplies increased. The outlook for travel remains strong, so market watchers will be waiting to see how those predictions may influence prices at the pump in the coming weeks. Memorial Day is the official kickoff to summer driving season. Historically gas prices increase at the beginning of summer and recede as autumn approaches.

“If crude oil prices keep falling, retail gas prices will likely follow,” said AAA Texas spokesperson Daniel Armbruster. “However, we’ll have to wait and see how much impact cheaper crude could have as the unofficial kickoff to summer, Memorial Day, is right around the corner and travel demand outlooks appear to be very strong.”

Drivers in Texas are paying the second lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are paying the most at $4.85 on average for a gallon of regular unleaded.

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