LUBBOCK, Texas — The Independence Day gas price average in the Lone Star State is below $2 per gallon for the first time in 16 years, according to a news release from AAA Texas.
Saturday marked the first Independence Day that Texas drivers have filled up for less than $2 per gallon, on average, since July 4, 2004.
“Texas gas prices haven’t been this low heading into Independence Day since the early 2000’s, said AAA Texas spokesperson Daniel Armbruster.
The statewide average price for a gallon of regular unleaded fuel was reported at $1.881 on Sunday and was trending downward slightly.
While gas prices had been steadily increasing for eight consecutive weeks they’re now holding steady.
“Demand for gasoline has been fluctuating and took a slight drop this week,” Armbruster said.
Gasoline supply and demand are largely in sync across the state, AAA Texas said, with the statewide average prices holding steady.
The latest Energy Information Administration (EIA) report showed gas demand took a slight step back to 8.56 million barrels per day from 8.61 million barrels per day last week.
Alongside decreasing demand, total domestic gasoline supplies grew by 1.2 million barrels to 256.5 million last week.
The national average price for a gallon of regular unleaded fuel was $2.179 Saturday and was trending upward.
In Lubbock, AAA Texas reported the average retail price was reported at $1.800 on Saturday.
The website GasBudddy.com, however, reported an average retail price of $1.79 here in the Hub City. The website also noted drives could find gas prices as low as $1.67 a gallon in Lubbock.
Compared to last weekend, pump prices were holding steady here in the Hub City.