AUSTIN (Talk1370.com) -- Prices at the pump are down slightly for the second straight week, according to the latest AAA Texas Weekend Gas Watch.
Austin-area drivers are paying an average of $2.56 a gallon for regular unleaded this week, down two cents from last week and an increase of 83 cents from this time a year ago.
Across the state, drivers are paying an average of $2.61 a gallon, also down two cents from last week. The state average is up 88 cents from a year prior. The nationwide average is flat this week, at $2.87 a gallon.
Drivers in El Paso are paying the most on average at $2.95, while drivers in the Sherman-Denison area are paying the least at $2.44 per gallon.
Analysts say the falling price for a gallon of regular unleaded gasoline is likely due to crude oil prices falling slightly, an increase in regional refinery utilization, and a rise in regional gasoline supplies. U.S. demand for gasoline did jump week-to-week, according to the latest data from the Energy Information Administration.
"Gas prices have declined slightly as crude oil prices have slid over the past few weeks in addition to an increase in gasoline supplies and refinery output," said AAA Texas spokesperson Daniel Armbruster. "Retail gas prices are still much higher than this same time last year and may fluctuate as demand across the U.S. has nearly recovered to pre-pandemic levels."
On average, drivers across the state continue to enjoy some of the cheapest pump prices in the country, with Texas ranking third lowest.
