Gas prices have seen some minor ups and downs during the first week of August, according to AAA Texas. Right now, the national average for a gallon of regular gasoline is $3.16. That’s up two cents from last week, but still 29 cents cheaper than this time last year.
Here in Texas, the average price for regular unleaded is $2.75 per gallon, based on the latest AAA Texas Weekend Gas Watch. That’s two cents less than what we were paying a week ago, and 31 cents less per gallon compared to this day last year.
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Looking at major metro areas across the state, drivers in Midland are paying the most on average at $2.94 per gallon, while those in the Sherman-Denison area are seeing the lowest prices at $2.62 per gallon.
Crude oil prices are holding steady in the mid-$60s per barrel, which is helping to keep gas prices fairly stable. Supply is still plentiful, especially since OPEC+—a group of oil-producing countries—recently announced it will be increasing production again next month, following several other boosts earlier this year.
“As summer winds down, we anticipate a surge in travel as families take advantage of one last road trip,” said Doug Shupe, Corporate Communications Manager for AAA Texas. “For those hitting the road over Labor Day weekend, we encourage drivers to maximize fuel efficiency by ensuring their vehicles are road-trip ready—check tire pressure, perform routine maintenance, and always follow posted speed limits. Driving at higher speeds not only increases safety risks but also reduces fuel efficiency.”