Gas Watch: Austin-area prices down slightly this week

Talk 1370 Newsroom
July 30, 2020 - 10:13 am

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AUSTIN (Talk1370.com) -- Gas prices are down slightly this week across Central Texas and the state, according to AAA Texas' Weekend Gas Watch.

The average price for a gallon of regular unleaded fuel in the Austin-San Marcos metro area is $1.86 this week, down two cents from last week and 60 cents cheaper than this time a year ago.

Across the state, drivers are paying an average of $1.89 a gallon, down one cent this week and 59 cents cheaper than a year ago - the third lowest average in the country. The nationwide average is flat this week at $2.19, down 54 cents from a year ago.

For the third straight week, drivers in El Paso are paying the state's highest average at $2.13 a gallon, while San Antonio drivers are paying the least for the second week in a row at $1.78 per gallon.

Analysts say only ten other states around the country are paying under the $2/gallon threshold. Prices around the state continue to show low volatility, as the regional gasoline supply has returned to above 91 million barrels - while U.S. gasoline demand has increased by about three percent compared to the prior week, according to data from the Energy Information Administration.

The price of crude oil has also been relatively unchanged in recent weeks.

"We are entering the final weeks of the summer driving season, and drivers around Texas are still paying under $2 a gallon on average," said AAA Texas' Joshua Zuber. "Pump prices may continue to push downward as COVID-19 concerns persist, excluding any major interruptions, such as significant tropical weather in the Gulf of Mexico."

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