Texas Gas Price Average Drops Lower This Week, Remains Less than Last Year

Published 08/21 2014 12:18PM

Updated 08/21 2014 01:23PM

IRVING, TX (PRESS RELEASE) -- The statewide average for a gallon of regular unleaded fuel in the Lone Star State is now $3.28, according to the AAA Texas Weekend Gas Watch.  That price is 1 cent less than last week and 14 cents less than this time last year.  Of the major metropolitan areas surveyed in the state drivers in El Paso are paying the most at $3.36 per gallon while drivers in Amarillo are paying the least at $3.17 per gallon.  Texas drivers are paying 16 cents less than the national average of $3.44.

With approximately one month remaining before the start of the shift from more expensive summer blend gasoline to the relatively less expensive winter blend, state and national gas prices averages continue to drift lower.

Geopolitical tensions in Russia, Ukraine and Iraq continue to make headlines, but unlike years past when global events would lead to concerns of supply disruptions and subsequently sharp increases in oil prices, these events have been largely dismissed as global oil prices continue to slide.  This is largely due to the relative stability of global supply projections, attributed to the U.S. approaching its highest annual level of production since 1972 and Libya’s returning to previous production levels.

“Texans are now paying about $46 to fill up the typical 14-gallon size fuel tank which is about two dollars less per tank than this time last year,” said AAA Texas/New Mexico Representative Doug Shupe.  “That savings will benefit many people who will be driving around this weekend getting their students ready to return to school on Monday.”

(Press release by AAA Texas)

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