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Gas Watch: Austin, statewide pump prices down slightly for third straight week

Gas pump

AUSTIN (Talk1370.com) -- Prices at the pump are down slightly for the third straight week, according to the latest AAA Texas Weekend Gas Watch.

Austin drivers are paying an average of $2.54 a gallon for regular unleaded, down one cent from last week and 90 cents higher than a year ago. A similar dip was seen in the statewide average this week, with Texans paying $2.59 on average - down one cent this week and 95 cents higher than a year ago.


Across the country, drivers are paying an average of $2.87 a gallon.

Drivers in El Paso continue to see the state's highest average, at $2.92 a gallon, while the average in Sherman-Denison has fallen to $2.42 a gallon.

Analysts say crude oil prices are remaining relatively flat, with demand holding steady and regional supplies up slightly. Prices may continue to drop slowly if this pattern continues, especially as crude oil prices also remain practically flat.

"Retail fuel prices have been practically unchanged since last week," said AAA Texas spokesperson Daniel Armbruster. "This, as demand for gasoline remained steady week-to-week."

Drivers in Texas are paying some of the cheapest gas prices in the U.S., ranking the second lowest in the country, according to AAA.