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Austin-area gas prices drop this week, AAA says

May 30, 2019 - 8:28 am
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AUSTIN (Talk1370.com) -- Gas prices continue their downward trend despite robust demand, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded fuel across the Austin area is $2.48 this week, down three cents from last week and 25 cents cheaper than a year ago.

Across the state, drivers are paying an average of $2.51 - that's down five cents from last week and 27 cents cheaper than a year ago. The drop in prices is a little more muted across the nation, down two cents this week to $2.82.

Pump prices in many parts of Texas were 10 cents higher at the start of May, on average, compared to current prices. Stable crude oil prices are helping to push prices down at the pump despite tight domestic gasoline supply and robust demand. A bump in demand could push prices back up.

"Gas prices have declined, on average, by a dime for many areas of Texas since the beginning of May and that's a trend drivers can expect to continue into early June," said Daniel Armbruster with AAA Texas. "However, if demand for retail gasoline increases further, that bump could cause prices to go back up slightly."

Seven South and Southeast states make the top 10 list for largest yearly savings at the pump: Florida (-31 cents), New Mexico (-27 cents), Louisiana (-24 cents), Texas (-24 cents), Georgia (-24 cents), Mississippi (-23 cents), and Alabama (-23 cents). In the region, Oklahomans are seeing the smallest year-over-year gas price change at -14 cents.

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