AAA Texas: Statewide gas price down this week as demand drops slightly, supply increases

State & Regional

(AP GraphicsBank)

LUBBOCK, Texas — After a slight increase last week, the statewide pump price average dropped back slightly this week, according to the news release from AAA Texas.

The statewide average price for a gallon of regular unleaded fuel was reported at $2.581 on Saturday and trending update.

“Texas drivers are seeing some stability at the pump when compared to last week,” said AAA Texas spokesperson Daniel Armbruster. “However, market forecasts still suggest that prices will likely rise as we head into the summer driving season, but by how much remains to be seen.”

Texas drivers were paying the second lowest gas prices on average across the country this week.

Regional fuel supplies had increased, and Gulf Coast refinery utilization had increased to 90 percent.

The national average price for a gallon of regular unleaded fuel was reported at $2.899 on Saturday and was trending upward.

The latest update from the Energy Information Administration showed demand for U.S. gasoline had dropped back below nine million barrels per day, which was a decline of two percent week-to-week.

Crude oil prices, however, have been on the rise.

In Lubbock, AAA Texas reported the average retail price was reported at $2.612 on Saturday.

The website, however, reported an average retail price of $2.59 here in the Hub City. The website also noted drives could find regular unleaded gas prices as low as $2.42 a gallon in Lubbock. continues ongoing coverage of the 2019 Novel Coronavirus (COVID-19) with updates on its impact and vaccination efforts.

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