AUSTIN (Talk1370.com) -- Gas prices across the state of Texas continue to fall in the wake of the coronavirus pandemic, according to AAA Texas' Weekend Gas Watch.
As of Thursday morning, Austin drivers are paying an average of $1.58 a gallon for regular unleaded, down five cents from last week and 91 cents cheaper than a year ago.
Across the state, Texans are paying an average of $1.57 a gallon. That's down six cents this week and is $1.01 cheaper than a year ago. The statewide average is at its lowest level since February 2016.
Nationwide, drivers are paying an average of $1.83, down six cents and $1.00 less than a year ago.
Drivers in Midland continue to see the state's highest average at $1.82 a gallon, and Sherman & Denison drivers continue to pay the least on average at $1.19.
Analysts say nationwide demand for gasoline is nearly half of last year's levels, just below 5.1 million barrels per day.
Despite efforts by oil producing countries to cut crude production globally, prices for domestic crude oil have continued to slump, which analysts say will likely continue to push gasoline prices cheaper.
"Gasoline prices have been on a steady decline around the Lone Star State since late February," Daniel Armbruster with AAA Texas said. "And while the crude oil production cut is historic, it’s likely to not have an immediate impact on pump prices given the ongoing impact the COVID-19 pandemic continues to have on crude oil prices and gasoline demand."
As of today, Texas has the 11th least expensive gas prices in the country, while Wisconsin has the lowest statewide average at $1.26 and on the U.S. mainland California carries the highest average at $2.84. Refinery utilization dropped to 76% in the Gulf coast region last week. In the last 20 years, the lowest level the Texas statewide average dropped to was $1.02, which was set on December 26, 2001.
