AUSTIN (Talk1370.com) -- With more than 2.6 million Texans set to travel for Memorial Day, the state is seeing some of the highest gas prices in nearly three years - although Austin-area drivers are paying slightly less at the pump.
Austin-area drivers are paying an average of $2.68 a gallon for regular unleaded this week, down two cents from last week and $1.05 more than a year ago.
Across the state, the average is down three cents to $2.73, which is $1.10 higher than a year ago. Drivers across the state paid an average of $2.77 on Memorial Day 2018, while prices fell to $2.53 in 2019.
Drivers in Midland are seeing the state's highest average price at $2.99 a gallon, while drivers in Amarillo are paying the least at $2.56 a gallon.
Across the nation, the average is flat this week at $3.04.
According to the latest data from the Energy Information Administration for the week ending May 21, the U.S. gasoline demand number jumped to almost 9.5 million barrels per day. The last time the EIA registered U.S. demand at more than 9.5 million barrels and above was in mid-March 2020.
Regional fuel supplies decreased slightly, and Gulf Coast refinery utilization registered flat from the week prior. Demand for gasoline is anticipated to remain higher when compared to last year as AAA predicts millions more people are preparing for the Memorial Day holiday weekend. In Texas, 2.8 million people will drive 50 miles or more to their holiday destination.
"Gasoline demand was projected to rise, and that's exactly what's happening, due to several factors including increasing vaccination rates and growing consumer confidence," said AAA Texas spokesperson Daniel Armbruster. "Consumption of fuel should remain strong as Memorial Day approaches and Texas is expected to see a strong rebound in the number of people traveling by automobile compared to last year's holiday weekend."
