While gas prices across the state and nation inched up this week amid continued high demand, area drivers actually saw cheaper fill-ups, particularly in Denton.
AAA on Thursday reported a penny uptick in the statewide average gas price, to $2.83 a gallon, which is 93 cents more per gallon than the average price this time last year. At the same time, the U.S. average price also increased a penny, to $3.16 a gallon — 97 cents more than during the third week of July in 2020.
Of the major metropolitan areas surveyed in Texas, drivers in Odessa are paying the most on average at $3.04, while drivers in the Sherman-Denison area are paying the least at $2.75 per gallon.
Despite rising prices for the state as a whole, drivers in the Dallas-Fort Worth region saw some of the largest price drops — with the average price in Dallas dipping 5 cents to $2.80 a gallon, while the average price in Fort Worth-Arlington fell 6 cents, also to $2.80 a gallon.
In Denton, GasBuddy.com on Thursday reported the lowest available price as $2.56 a gallon, found at the Sam’s Club station off West University Drive. That price is 15 cents lower than the lowest-reported price last week.
Demand for retail gasoline remains strong across the United States as more people are traveling this summer compared with 2020, AAA reported. Oil Price Information Service data shows that U.S. gasoline sales climbed 3.6% week-over-week. According to the Energy Information Administration, regional fuel supply levels increased slightly as did Gulf Coast refinery utilization from the week prior.
These factors have likely helped keep Texas gas prices from increasing compared with last week, AAA noted. Crude oil prices are much more expensive now than they were last year, which is why retail gasoline prices are nearly $1 more per gallon, on average. The cost of crude makes up roughly half the cost of what we pay at the pump. Crude oil prices have rebounded from the steep losses seen early in the week.
Drivers in Texas are paying some of the cheapest gas prices in the U.S., ranking third lowest in the country, according to gasprices.aaa.com. Mississippi continues to have the lowest average gas price, $2.78 a gallon.