EL PASO, Texas (KTSM) – According to the most recent AAA Texas Weekend Gas Watch, the statewide gas price average in Texas is $2.97 for a gallon of regular unleaded fuel, with El Paso area drivers still paying the highest prices in the state.
Drivers in El Paso are paying $3.18 per gallon, while drivers in Amarillo are paying the least at $2.81 per gallon.
The national average price for a gallon of regular unleaded is $3.38, which is two cents less when compared to this day last week and $1.22 more than the price per gallon at this same time last year.
“Gasoline prices across much of the state are reversing their upward trend thanks to decreasing demand and falling crude oil prices,” said AAA Texas spokesperson Daniel Armbruster. “But it’s too soon to tell if fears of a global economic slowdown caused by the Omicron variant will push oil prices lower for the long term. Drivers can save on fuel by avoiding quick accelerations, riding on healthy tires and keeping their vehicle maintained in accordance with their vehicle owner’s manual.”
According to the latest data from the Energy Information Administration, demand for gasoline fell week-to-week across the U.S. by nearly six percent.
Officials say gasoline demand remains elevated from this time last year. Weekly regional fuel supply numbers increased slightly, and Gulf Coast refinery utilization remained practically flat from the week prior. Crude oil prices tumbled following news that the Omicron COVID-19 variant is spreading across the globe.
West Texas Intermediate crude oil is below $70 per barrel for the first time since early September.
Drivers in Texas are paying the 2nd lowest gas price average in the country, according to gasprices.aaa.com. Oklahoma has the lowest average in the nation at $2.96 and California has the highest of any state at $4.70.