Gas Watch: Austin-area pump prices dip again ahead of Thanksgiving holiday travel week

Gas pump

AUSTIN (Talk1370.com) -- Gas prices have fallen for a second straight week across the Austin metro area, according to the AAA Texas Weekend Gas Watch.

The average price for a gallon of regular unleaded fuel across the Austin metro fell to $2.99 a gallon, down two cents from last week and $1.22 higher than a year ago.

Across the state, drivers are paying an average of $3.03 a gallon this week, down four cents from last week and $1.23 higher than a year ago.

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Drivers in El Paso are paying the most on average at $3.22 per gallon while drivers in Amarillo are paying the least at $2.87 per gallon.

The national average price for a gallon of regular unleaded is $3.41, which is one cent less when compared to this day last week and $1.29 more than the price per gallon at this same time last year.

"Texas drivers can be thankful that retail gas prices are starting to drop, but we won’t see anything close to the prices from Thanksgiving 2020," said AAA Texas spokesperson Daniel Armbruster.

For the first time in months oil prices started to slip below $80 a barrel in recent days. On Thursday, the price of crude fell to six-week lows after the Biden administration requested that China, Japan and South Korea release their strategic oil reserves. While crude oil and gas prices had already started falling earlier in the week due to a slight drop in demand, it’s still too early to say if prices will continue to drop leading into the busy Thanksgiving travel period.