Easing off a weeks-long spike, average retail gasoline prices in Texas and nationwide declined by 2 cents this week, AAA Texas reported Thursday, with the average state price now standing at $2.76 per gallon of regular unleaded.
Nationwide retail gasoline prices settled at $2.94 per gallon.
The state price is 57 cents more per gallon than during this time a year ago, AAA reported. The AAA survey found Midland has the most expensive gasoline in Texas this week at an average $3.10 per gallon. Drivers in the Brownsville-Harlingen area have the state’s cheapest gasoline at an average $2.63 per gallon.
Closer to home, the average price dropped 2 cents in both Dallas and Fort Worth-Arlington, settling at $2.83 and $2.82, respectively.
In Denton, GasBuddy.com on Thursday listed the lowest available price as $2.71, found at the Sam’s Club station off West University Drive.
For the first time in three months, the national gas price average went down week-to-week, which could come as good news for many drivers.
In a recent AAA survey, nearly 80 percent of Americans said gasoline selling for $3 a gallon was too high. Oil prices have been volatile recently, AAA reported. Although this is playing a role in the trend of stable or slightly lower gas prices, most market analysts note it’s unlikely oil prices will drop enough to have a major impact on lowering gas prices this summer, AAA warned.
The last time the statewide average in Texas did not increase week to week was nearly three months ago on March 15 when the price remained flat, according to AAA. The last time Texans saw the statewide average decrease was February 22, when the week-to-week price for regular unleaded dropped 4 cents.
AAA experts say news OPEC could possibly reverse the supply reduction agreement with its partners, which has been in place since early 2017, had an impact on oil prices.
The Associated Press contributed to this report.