Gas Watch: Austin-area prices dip slightly, remain low

Longest stretch below $2/gallon since 2005

Talk 1370 Newsroom
October 01, 2020 - 9:33 am
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AUSTIN (Talk1370.com) -- Gas prices across the Austin area remain well off normal levels, according to the latest AAA Texas Weekend Gas Watch.

The average price for a gallon of regular unleaded fuel in the Austin-San Marcos metro area is $1.85 this week, down two cents from last week and 48 cents cheaper than this time a year ago. Statewide, drivers are paying an average of $1.86 a gallon, down one cent this week and 49 cents from a year ago.

This week, drivers in El Paso are seeing the state's highest average at $2.15, while drivers in Sherman/Denison are paying the least at $1.75 a gallon.

Nationwide, drivers are paying an average of $2.19 a gallon, down one cent this week and 46 cents compared to last year.

The Texas statewide average has been below the $2/gallon mark for 202 days, beating the previous record stretch of 195 days set back in 2016. Market analysts primarily attribute the cheaper fuel prices to demand destruction caused by COVID-19 concerns.

"The average price for regular unleaded in the Lone Star State continues its streak below $2 a gallon since March, a record for Texas drivers since $2 per gallon gas was first seen in Texas back in 2005," said Daniel Armbruster with AAA Texas. "With fall officially here, drivers may see gas prices decrease pending any major market volatility."

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