Statewide pump price tumbles to five-month low

Gas Tracker

FILE – In this Sept. 17, 2019, file photo, a gas pump reflecting current prices is seen in Orlando, Fla. On Thursday, Feb. 13, 2020, the Labor Department releases Consumer Price Index for January. (AP Photo/John Raoux, File)

AMARILLO, Texas (KAMR/KCIT) – According to AAA Texas, the statewide gas prices in Texas is $1.79 a gallon of regular unleaded fuel.

AAA Texas continues, that price is five cents less than on this day lass week and is 46 cents less per gallon compared to this day lasy year

On the major metropolitan areas surveyed, drivers in Odessa are paying the most on average at $2.02 while driver in Sherman-Denison are paying the least at $1.64 per gallon. AAA Texas says, the Sherman-Denison area also has the lowest gas price average of any metro area surveyed by AAA across the U.S. this week.

The national average price for a gallon of regular unleaded is $2.12, which is three cents less when compared tp this day day last week and 49 cents less than the price per gallon at this same time last year.

AAA Texas says, the statewide average price at the pump for regular unleaded dropped to its lowest level since early June on Thursday, and drivers in Texas have been paying below $2.00 a gallon for regular unleaded on average for 237 days, according to historical data from gasprices.aaa.com.

According to AAA Texas, COVID-19 concerns continue to keep gasoline demand levels well below last year, which has been driving pump prices lower from this time last year. Also, last week, the price for a barrel of crude oil fell to its lowest level since June – hitting $35.00. Crude price have since rebounded slightly but still trading cheaper than from this time last year and that could drive the price for gasoline down further.

“The statewide average price for a gallon of regular unleaded has fallen to its lowest level in more than five months,” said AAA Texas spokesperson Daniel Armbruster. “Road trips will be the main mode of travel this fall, but thus far demand for gasoline remains well below 2019 levels due to COVID-19 concerns.”

This is according to gasprices.aaa.com.


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