Drivers in the San Marcos/Austin area continued to see a drop in gas prices this week, according to AAA Texas.
The San Marcos area saw a slight decline of four cents compared to last week. AAA Texas stated that as of Thursday drivers in the area were paying an average of $3.43 for unleaded fuel compared to last week’s $3.47. Average gas prices, however, are still up 67 cents compared to last year.
Texans are paying the fourth lowest average for unleaded gas in the U.S. The statewide average across Texas is five cents less than last week at $3.41 but is $0.61 more per gallon compared to last year.
Gas prices varied across the state with some areas seeing rises. AAA Texas said the average fell for the 10th consecutive week but headlines about OPEC and its allies considering cutting output have been a reason for oil prices to rise. AAA Texas added that higher oil futures are likely contributing to some Texas metro areas seeing price jumps.
“Supply and demand volatility in the oil and gas markets can quickly change pump prices,” AAA Texas spokesperson Joshua Zuber said in a statement. “The market is going to continue to be very sensitive to headlines with the ongoing war in Ukraine.”
Nationwide, average gas prices have fallen for the 10th straight week, declining 5.1cents from last week to $3.86 per gallon, according to GasBuddy — a travel and navigation app that is used to save money on gas. GasBuddy added that the national average has fallen 51.3 cents from last month but is $0.722 per gallon higher than last year. The national average price of diesel is down 6.3 cents since last week and was at $4.97per gallon.
“While some areas saw gas prices rise slightly last week, the national average saw yet another weekly decline, extending the streak to ten straight weeks,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The pace of declines is certainly slowing down as oil prices have bounced up slightly, but the West Coast and Northeastern U.S. are areas that still may see gas prices decline, while the South and Midwest see the drop fade and potentially slight increases.
“In addition to falling gasoline prices, the average price of diesel has fallen below $5 per gallon for the first time since March, likely helping to cool off aggressive inflation numbers. Thus far, Mother Nature has spared us from disruptions from hurricanes, but that remains a wildcard as we head into the peak of hurricane season.”
In Texas, El Paso drivers are paying the most on average at $3.72 per gallon, while drivers in the McAllen area are paying the least at $3.10 per gallon.
