The statewide average price for a gallon of regular unleaded fuel in Texas was reported at $3.192 on Saturday.
Texas drivers were paying the second lowest gas prices on average across the country this week.
The highest gas prices in the state this week were reported in El Paso. The cheapest gas prices were reported in McAllen and Brownsville.
“Fuel prices are going down despite strong demand as road trip travel remains popular this fall– reaching almost summer-like levels this prior week,” said AAA Texas spokesperson Daniel Armbruster in the press release.
Texas recorded its highest gas price average on June 15, 2022 at $4.695 a gallon.
The national average price for a gallon of regular unleaded fuel was reported at $3.761 on Saturday.
According to OilPrice.com, West Texas Intermediate crude ended the week at $87.90 a barrel, while Brent crude ended at $95.77 a barrel.
Crude oil markets continue to be volatile, swinging in either direction daily, AAA Texas said.
“Despite strong demand, fears of a global recession and the White House’s plan to tap the Strategic Petroleum Reserve through December are sending retail gas prices lower,” Armbruster said in the press release.
AAA Texas said crude oil makes up approximately 50 to 60 percent of the cost of a gallon of gas.
The U.S. recorded its highest gas price average on June 14, 2022 at $5.016 a gallon.
Locally, the average retail price for a gallon of regular unleaded fuel in the Lubbock was reported at $3.162 on Saturday. AAA data showed local prices were trending downward.
Lubbock recorded its highest gas price average on June 14, 2022 at $4.520 a gallon.
Meanwhile, the consumer website GasBudddy.com reported an average retail price of $3.13 in the Hub City on Saturday. However, prices were reported as low as $2.82 for a gallon of regular unleaded. GasBuddy.com data on Saturday indicated local prices were downward.