The statewide gas price average in Texas is $1.87 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent more than on this day last week and is 51 cents less per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $2.16 while drivers in the Sherman/Denison area are paying the least at $1.73 per gallon. The national average price for a gallon of regular unleaded is $2.20, which is two cents more when compared to this day last week and 46 cents less than the price per gallon at this same time last year.
Because gas prices have been relatively steady, tomorrow, September 25, will likely mark the longest number of consecutive days the statewide gas price average has remained below $2 a gallon, since Texans first started paying for $2 per gallon gas. Texas has only seen sub-$2 gas for 195 consecutive days twice since 2005, which was the earliest time the statewide average recorded $2 per gallon for regular unleaded fuel. The statewide gas price average has remained below $2 since mid-March of this year, and as of today, ties the record set in 2016.
“The Texas statewide gas price average is on course to see the longest stretch of sub-$2/gallon gasoline since Texans first paid $2/gallon in 2005,” said AAA Texas spokesperson Daniel Armbruster. “Prices could continue to remain lower due to demand destruction caused by COVID-19 concerns and fewer people traveling this fall.”
Market analysts primarily attribute the long stretch in lower fuel prices to demand destruction caused by COVID-19 concerns, as well as the switchover to winter-blend gasoline, which is usually cheaper to produce. With the nation entering the fall driving season, which typically sees fewer road trips, a continued drop in demand will likely lead to pump prices continuing to decrease.
Drivers in Texas are paying some of the cheapest prices at the pump, ranking 2nd lowest in the country, according to gasprices.aaa.com.