Austin-area gas prices dip slightly this week

August 09, 2018 - 8:56 am

AUSTIN (KJCE) -- Gas prices dropped slightly this week, according to the latest AAA Texas Gas Watch.

The average price for a gallon of regular unleaded in the Austin area is $2.62, down one cent from last week and up 48 cents from this time a year ago.

Across the state, the average dipped two cents to $2.63; nationally, prices held steady at an average of $2.87. Drivers in Midland are paying the most on average at $3.08, while drivers in McAllen and San Antonio are paying the least at $2.53 per gallon.

Fluctuating oil prices and slower demand kept prices in Texas from rising week-to-week; however, drivers are paying the most expensive August gas prices since 2014. Near record demand in previous weeks forced prices to rise at the end of July into early August. If demand continues to drop, drivers could experience some relief at the gas pump through the remainder of the month.

While gas prices in the south and southeastern regions of the U.S. remain some of the lowest in the country, drivers are paying 54 cents more, on average, for a gallon of regular unleaded compared to one year ago.

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