AAA: Texas Drivers See Gas Prices Decline for Another Week

LUBBOCK, TX — Texas drivers are seeing some relief at the pump this week as gas prices continue to decline statewide.

According to the AAA Texas Weekend Gas Watch, the average price for a gallon of regular unleaded fuel in Texas is now $2.73, down nine cents from last week and 54 cents lower than this time last year.

Among major metro areas surveyed, El Paso reported the highest average price at $2.87 per gallon, while Abilene drivers are paying the least, averaging $2.54 per gallon. Lubbock drivers are paying an average of $2.57 per gallon.

The national average for regular unleaded sits at $3.17, which is five cents lower than last week and 49 cents cheaper than one year ago.

Analysts say the drop in prices is due in part to softer demand following the end of spring break travel. Lower crude oil prices also contribute to the trend and possibly set the stage for continued decreases as summer approaches.

West Texas Intermediate crude ended Wednesday’s trading session up $1.14, closing at $62.47 per barrel. The U.S. Energy Information Administration reported a modest increase of 0.5 million barrels in crude inventories last week. Total U.S. crude stockpiles now sit at 442.9 million barrels — about six percent below the five-year average for this time of year.