AUSTIN (Talk1370.com) -- Austin-area gas prices ahead of the Labor Day holiday weekend are down slightly, according to the AAA Texas Weekend Gas Watch.
The average price for a gallon of regular unleaded across the Austin metro this week is $1.88, down one cent from last week and 42 cents cheaper than a year ago.
Across the state, drivers are paying an average of $1.91 a gallon, also down one cent this week. Drivers in Odessa are paying the most on average at $2.13, while drivers in San Antonio are paying the least at $1.81 per gallon.
The national average is $2.23, the same as last week and 34 cents cheaper than a year ago.
Pump prices have been relatively steady despite disruption to the oil and gas industry in the Gulf of Mexico after Hurricane Laura made landfall last week. Balancing forces in the market, such as decreasing gasoline demand across the country and a slight reduction in regional gasoline supply, could be behind the slow pump price movement. As for the outlook on fuel prices, the impact to oil and gas facilities in the Gulf region from Hurricane Laura could be felt for some time. Industry analysts caution that if platforms and rigs are offline for an extended amount of time, supply could tighten, and gas prices could be impacted.
"Texas pump prices are setting up to be the cheapest for a gallon of regular unleaded on Labor Day since 2004," said AAA Texas' Daniel Armbruster. "This shows just how much of an impact the COVID-19 pandemic has had on fuel prices, even after a major hurricane interrupted refinery operations in the Gulf of Mexico."
Drivers in Texas are paying some of the cheapest prices at the pump, ranking 2nd lowest in the country, according to AAA.
