AAA Texas: Gas Prices Falling, El Paso drivers paying highest prices in state

El Paso News

Crude oil prices fluctuate amid concerns over omicron variant

(Getty images)

EL PASO, Texas (KTSM) – Officials with AAA Texas released their statewide gas price survey Thursday, and while gas prices continue to drop, El Paso drivers are still paying the highest prices in the state to fill their tank.

According to the AAA Texas Weekend Gas Watch, the statewide gas price average in Texas is $2.93 for a gallon of regular unleaded fuel. That price is four cents less than from this day last week and is $1.07 more per gallon compared to this day last year.

Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $3.11 per gallon while drivers in Amarillo are paying the least at $2.74 per gallon.

The national average price for a gallon of regular unleaded is $3.34, which is four cents less when compared to this day last week and $1.18 more than the price per gallon at this same time last year.

“Prices at the pump have been falling as crude oil prices have been fluctuating due to concerns over the COVID-19 Omicron variant…on December 2, OPEC+ announced it would stick to its plan, for now, to raise production by 400,000 barrels per day in January, which has also helped keep a lid on oil prices.”

AAA Texas spokesperson Daniel Armbruster

According to the latest data from the Energy Information Administration for the week ending December 3, the U.S. gasoline demand number increased slightly week-to-week by around two percent and remains elevated from this time last year.

However, concerns of a possible COVID-19 global economic slowdown pushed oil prices into the mid-$60s per barrel last week —a price not seen since August. West Texas Intermediate (WTI) crude has since rebounded to above $70 per barrel.

Drivers in Texas are paying the 2nd lowest gas price average in the country, according to Oklahoma has the lowest average of any state at $2.91 per gallon.

Meanwhile, California continues to have the highest gas price average in the country. Drivers in The Golden State are paying $4.68 per gallon, on average.

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