AAA Texas: Gas Prices Keep Climbing as Demand Remains Very Strong

The statewide gas price average in Texas is $2.84 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is three cents more than on this day last week and is 93 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Odessa and Midland are paying the most on average at $3.04 while drivers in the Houston and San Antonio areas are paying the least at $2.78 per gallon. The national average price for a gallon of regular unleaded is $3.15, which is one cent more when compared to this day last week and 95 cents more than the price per gallon at this same time last year.

According to the latest data from the Energy Information Administration for the week ending July 9, the U.S. gasoline demand number fell week-to-week from a record high of more than 10 million barrels (due to record Independence Day travel) a day to 9.3 million barrels a day.  Weekly regional fuel supply numbers increased slightly, and Gulf Coast refinery utilization registered flat from the week prior. As demand for fuel products have been on the rise over recent months, so have crude oil prices, which is the lead factor in what Americans are paying at the pump. However, crude oil prices have fluctuated this week as OPEC+ members try to come to an agreement on global output.

“The upward trend in gas prices continued for another week, albeit just by a few cents for the statewide average,” said AAA Texas spokesperson Daniel Armbruster. “And while crude oil prices have been on a bit of a rollercoaster lately, they remain elevated from last year, which is why we are all paying more for gasoline.”

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