LUBBOCK, Texas — The Lone Star State’s gas price average has fallen now for 14 consecutive weeks, according to a press release from AAA Texas.
However, the nation’s gas price average and the gas price average in some Texas cities rose again for the second week.
The statewide average price for a gallon of regular unleaded fuel in Texas was reported at $3.139 on Saturday. Prices were trending downard.
“The statewide gas price average for Texas has been on the decline for three months,” said AAA Texas spokesperson Daniel Armbruster. “Retail gas price fluctuations remain possible due to Russia’s war in Ukraine as well as increasing hurricane activity.”
Texas drivers were paying the fourth lowest gas prices on average across the country this week.
The highest gas prices in the state this week were reported in Amarillo. The cheapest gas prices were reported in McAllen.
Texas recorded its highest gas price average on June 15, 2022 at $4.695 a gallon.
The national average price for a gallon of regular unleaded fuel was reported at $3.700 on Saturday. Prices were trending upward.
Refinery issues in some parts of the country have resulted to gas price increases in some regions such as the West Coast, Midwest and the Great Lakes.
Retail gas price fluctuations remain possible due to Russia’s war in Ukraine and increasing hurricane activity, AAA Texas warned.
Most of the nation is now using less expensive winter blend gasoline, so price reductions have already began to occur.
Inflation and economic slowdown worries have been keeping oil prices lower compared to where they were over the summer, AAA Texas said.
West Texas Intermediate crude ended the week at $78.74 a barrel, while Brent crude ended at $86.15, according to OilPrice.com.
AAA Texas said crude oil makes up approximately 50 to 60 percent of the cost of a gallon of gas.
The U.S. recorded its highest gas price average on June 14, 2022 at $5.016 a gallon.
Meanwhile, Lubbock was among those Texas cities that experienced price increases again this week.
The average retail price for a gallon of regular unleaded fuel in the Hub City was reported at $3.197 on Saturday. However, AAA data showed prices were slowly trending downward again.
Lubbock recorded its highest gas price average on June 14, 2022 at $4.520 a gallon.
The website GasBudddy.com reported an average retail price of $3.18 here in the Hub City. However, prices were reported as low as $2.98 for a gallon of regular unleaded. GasBuddy.com data on Saturday indicated local prices were holding steady.
