Gas Watch: With supply outpacing demand, Austin-area prices dip again

Talk 1370 Newsroom
January 23, 2020 - 8:09 am
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AUSTIN (Talk1370.com) -- Gas prices across the state of Texas are continuing to drop as supply outpaces demand, according to AAA Texas' Weekend Gas Watch.

The average price for a gallon of regular unleaded fuel in the Austin metro area is $2.22 this week, down two cents from last week and 27 cents higher than this time a year ago.

Drivers in Midland are paying the most in the state at $2.45, while drivers in Sherman/Denison are paying the least at $2.10 per gallon. El Paso saw the state's biggest decrease on the week, dropping 9 cents to an average of $2.33.

Across the state, drivers are paying an average of $2.22 a gallon, which is four cents less than a week ago and 24 cents higher than a year ago; across the nation, drivers are paying an average of $2.54 a gallon, down three cents this week and 27 cents higher than a year ago.

"Gas prices usually trend lower in January as demand for fuel drops due to colder temperatures and fewer people driving,” said Daniel Armbruster with AAA Texas. "As demand drops, regional supplies continue to build, which is likely going to force prices lower."

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