TEXAS (WBAP/KLIF News) – Texans saw some relief at the pump this week as gas prices dropped for the first time in 14 weeks.
AAA Texas reports the average price in Texas is $2.59 for a gallon of regular unleaded fuel which is three cents less than on this day last week and four cents less compared to this day last year.
In Dallas/Fort Worth, prices dropped eight cents to $2.62 cents for a gallon of regular unleaded.
According to a AAA Texas survey, Midland drivers are paying the most at $2.76 per gallon while San Antonio drivers are paying the least at $2.45 per gallon.
The agency’s Daniel Armbruster credits the fact that the United States put out the most production of crude oil, 12.3 million barrels per day, last week in history which added to the supply.
Twenty-seven states saw gas prices decrease or hold steady during the week, according to the AAA Texas report.
However, it’s trend Armbruster said analysts aren’t expecting to last.
“Gasoline demands robust, summer driving season is almost here and there’s a lot of situations going on on the global market that could really impact gas prices as we go into the summer,” he said.
Gas price trends are something a lot people pay attention to in order to manage their weekly budget or during a vacation. Armbruster said there are several factors people can watch to keep up to date on prices.
“What is OPEC going to do when it comes to global supply? What’s happening in Venezuela? What’s happening in Iran? Also, trade talks between U.S. and China could impact crude oil prices on the global stage,” he said.
According to AAA Texas, Texas has not seen its statewide average drop since the beginning of February, when the average price for a gallon of regular unleaded was $1.97.
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