Gas Watch: Austin-area prices dip as demand fluctuates

Talk 1370 Newsroom
July 09, 2020 - 10:49 am
Categories: 

AUSTIN (Talk1370.com) -- Gas prices declined slightly this week, according to the latest AAA Texas Weekend Gas Watch.

The average price for a gallon of regular unleaded in the Austin metro area is $1.88 this week, down two cents from last week and 56 cents cheaper than a year ago. Across the state, the average is down one cent this week to $1.88 a gallon, which is 59 cents cheaper than a year ago.

Drivers in Abilene, Midland, and Odessa are seeing some of the highest prices in the state, at an average of $1.99 a gallon, while Victoria is seeing the state's lowest average at $1.79 per gallon. Across the country, drivers are paying an average of $2.19, which is up one cent from last week and 56 cents cheaper than a year ago.

Analysts say it's the first decline in the Texas average in more than two months. The minor change comes as regional gasoline stocks build, plus demand for gasoline is relatively weak compared to this same time last year. COVID-19 could also be a factor, with increases in cases causing some Texans to reconsider outings.

"AAA forecasts that most people in our region of the country will choose the car over any other mode of transportation if traveling this summer,” said AAA Texas' Daniel Armbruster. "While most people will drive, demand for gasoline may fluctuate in the coming weeks due to reports that coronavirus cases have increased in some states, which could impact pump prices."

Texas is among 12 states with gas prices on average below the $2 mark, with Texas ranking 4th in the country.
 

AP Editorial Categories: 
Comments ()