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Austin-area gas prices drop again to start 2019

January 03, 2019 - 8:53 am

AUSTIN (KJCE) -- Gas prices are continuing their downward trend into the new year, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded gasoline in the Austin area is $1.97, down four cents from last week and 26 cents from a year ago. The statewide average is sitting at $1.93, also down four cents this week and 32 cents year to year.

Nationwide, the average is $2.25, down five cents from a week ago and 24 cents from this time in 2018.

Across Texas, drivers in Midland continue to pay the most on average at $2.49, while drivers in Amarillo and Sherman/Denison are paying the least at $1.80 per gallon.

Texas retail gasoline prices have been dropping since mid-October due to falling crude oil prices. It remains unclear how long prices will continue to fall, as OPEC recently decided to make changes that will likely lead to higher oil prices in 2019. Crude oil prices have been declining due to an abundance of supply on the global market.

"Texans are paying much less for retail gasoline in 2019 compared to the start of last year," said Daniel Armbruster with AAA Texas. "The statewide average is lower by 32 cents per gallon compared to this time last year, which means the average family is saving $4.16 per tank."

Most South and Southeast states have gas price averages below $2.00 per gallon. On the week, Florida and North Carolina were the only regional states to see prices above the $2.00 level.

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