AAA Texas: Gas Prices Keep Falling, Down 18 Percent From Year Ago

SAN ANTONIO (KTSA News) — The price of gas is dropping across Texas, although we have yet to reach prices seen prior to the COVID-19 pandemic and the Biden Administration.

According to the U. S. Energy Information Administration (EIA), the statewide average price for a gallon of regular unleaded fuel in the Lone Star State was $2.28 in September of 2019. The current statewide average price is $2.77, which is 49 cents more per gallon than five years ago.

On the other hand, the current price Texans are paying is 58 cents less than what they were paying a year ago, and it is an 11-cent drop from last week’s average price.

The average price for regular in San Antonio is well-below the statewide average price, currently sitting at $2.60. This is an 18-cent drop over last week’s average price of $2.78. More significantly, the current price is 84 cents less than what was posted a year ago, according to AAA Texas Weekend Gas WAtch.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso metro area are paying the most on average at $3.19 per gallon while drivers in Abilene are paying the least at $2.59 per gallon.

The national average price for a gallon of regular unleaded is $3.24, which is seven cents less when compared to this day last week and 60 cents less per gallon when compared to this day last year.

According to new data from EIA, gas demand fell last week from 8.93 million b/d to 8.47.

Meanwhile, total domestic gasoline stocks rose 219.2 to 221.6 million barrels, and gasoline production decreased last week, averaging 9.4 million barrels per day. Tumbling gasoline demand and oil costs will likely keep pump prices sliding.