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Gas Watch: Austin-area pump prices down slightly this week as demand drops

Gas pump

AUSTIN (Talk1370.com) -- Austin drivers are paying slightly less at the pump this week, according to the latest edition of AAA Texas' Weekend Gas Watch.

Drivers in the Austin-San Marcos metro area are paying an average of $2.50 this week for a gallon of regular unleaded, down two cents from last week and 99 cents more expensive than a year ago.


Across the state, the average is down one cent to $2.58 a gallon. That's $1.07 more expensive than a year ago. Nationwide, prices are up one cent on average to $2.89, which is $1.12 more than this time last year.

Drivers in San Antonio continue to see the state's lowest average at $2.40 a gallon, while El Paso drivers are paying the highest at $2.89.

According to the latest data from the Energy Information Administration, demand for U.S. gasoline dropped back below nine million barrels per day, which was a decline of two percent week-to-week. Regional fuel supplies increased, and Gulf Coast refinery utilization registered higher as well, increasing slightly to 90 percent. Crude oil prices have also been on the rise, sitting at $65 per barrel for West Texas Intermediate (WTI) as of Thursday morning.

Compared to other states across the country, Texas continues to see some of the country's lowest prices at the pump - only bested by Mississippi.