With drivers in Texas preparing to travel for the Easter holiday weekend, gas prices continue a slow decline with the cost at the pump falling seven cents over the last week across the state, according to AAA Texas.
The average price for regular unleaded fuel in Texas is $3.70 per gallon as of Thursday, which marks a seven cent decrease over the last week and is 31 cents less than the record price of $4.01 set in March.
AAA Texas said retail gasoline prices have been in decline as crude oil supply concerns have eased. The International Energy Agency’s 31 member countries announced plans last week to release 120 million barrels of crude oil from their respective emergency oil stockpiles, including 60 million barrels of oil from the U.S., AAA Texas said. The announcement has eased supply concerns, which has lowered crude oil prices compared to where they were a few weeks ago at $130 a barrel in March.
