Texans see relief at the pump with largest weekly gas price decrease this year
Prices at the gas pump fell nearly 20 cents over the last week, marking the largest decrease this year, according to AAA Texas.
Drivers in the San Marcos/Austin area are paying 16 cents less per gallon of unleaded fuel compared to last week at $4.36. The statewide gas price average is $4.33 for a gallon of regular unleaded fuel — 16 cents less than last week. The average cost per gallon, however, is $1.52 more per gallon than this time last year.
AAA Texas warned that while many drivers will be happy to see prices decline, it is uncertain if this trend will continue or if another round of fluctuations can be expected. Gas prices falling can be attributed to crude oil prices decreasing, AAA Texas said.
“The largest weekly decline in 2022 for fuel prices is good news for drivers, but we’re not out of the woods just yet,” AAA Texas spokesperson Daniel Armbruster said. “Gas prices will remain elevated compared to one year ago and could fluctuate in July, which is typically one of the busiest months in Texas for road trips and fuel demand.”
Nationwide, average gas prices have fallen 10.4 cents to $4.78 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 7.1 cents from last month but is $1.66 per gallon higher than last year.
“As expected, and for the third straight week, average gasoline prices have fallen to their lowest level in over a month. The price of wholesale gasoline has plummeted, providing price relief as millions of Americans hit the road for the holiday weekend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday. For the time being, Americans are spending nearly $100 million per day less on gasoline than when prices peaked a few weeks ago, and that’s well-needed relief at a time when gas prices remain near records.”
In Texas, El Paso drivers are paying the most on average at $4.44 per gallon, while drivers in Laredo are paying the least at $3.98 per gallon, AAA Texas said. Texas drivers are paying the sixth lowest gas price average in the country, according to gasprices.aaa.com.
