AUSTIN (Talk1370.com) -- Drivers across the Austin metro area are paying slightly less at the pump this week, while Texas drivers as a whole are paying slightly more on average - all according to this week's AAA Texas Weekend Gas Watch.
The average price for a gallon of regular unleaded in the Austin-San Marcos metro area is $3.15 this week, down one cent from last week and down $1.55 from this time last year.
A year ago, Austin drivers were paying the highest average on record, at $4.70 a gallon.
Across the state, Texas drivers are paying an average of $3.14 this week, up three cents from last week and $1.55 lower than this time last year.
Drivers in El Paso are paying the most on average at $3.39 per gallon while drivers in San Angelo are paying the least at $2.95 per gallon.
Crude oil prices increased last week with news of Saudi Arabia planning to reduce its oil output next month. However, even with interest rate hikes on pause this month, market watchers are still waiting to see if more interest rates could be on the way, which may slow down demand for fuel. Demand remains at summer-like levels, which continues to support the outlook of strong demand for travel over the summer months.
“Many spots around the Lone Star State are noticing slightly higher prices from last week,” said AAA Texas spokesperson Daniel Armbruster. “But, price trends may reverse as crude oil prices fell below $70 a barrel earlier this week.”
Drivers in Texas are paying the fourth lowest gas price average in the country, according to AAA. Meanwhile, drivers in California are paying the most at $4.88 on average for a gallon of regular unleaded.