Despite a continuing downfall in gasoline prices across the state and nation, Denton drivers this week saw a pinch at the pump, with a double-digit spike in the price for a gallon of regular unleaded.
Statewide, the average price per gallon fell 3 cents on the week, AAA reported Thursday, setting at $2.08 a gallon — 10 cents more per gallon than during this time last year. At the same time, the U.S. average price dipped 2 cents to $2.43 a gallon — 16 cents more than in 2019.
Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.34, while drivers in Sherman/Denison are paying the least at $1.92 per gallon.
Closer to home, drivers in the Dallas-Fort Worth region (apart from Denton) saw barely a budge in prices, with the average price in Dallas dropping a penny to $2.03 a gallon, while prices remained unchanged in Fort Worth-Arlington, also at $2.03.
In Denton, GasBuddy.com on Thursday listed the lowest available price as $1.92, found at the Exceleron station off East University Drive and Village East Drive. That price is a 13-cent increase from last week, when Denton posted the lowest price in the state.
Texas gas prices may be 10 cents more expensive than last year, but that price gap has been shrinking steadily, according to AAA. It’s the smallest year-over-year difference seen in two months.
It is a similar story on a national scale where the price gap year over year is also dwindling, AAA noted. Plus, many gas stations are seeing sub-$2 per gallon for regular unleaded across the Lone Star State. The last time AAA Texas reported gas prices below $2 a gallon for the whole state was back in January 2019.
“Gasoline stocks persist at a healthy level, and demand remains at winter-like readings which is leading to lower gas prices,” said AAA Texas spokesman Daniel Armbruster. “Market analysts will be watching closely, however, to see if the Organization of the Petroleum Exporting Counties will cut crude production due to the impact of the coronavirus on global oil demand.”
The South and Southeast regions boast some of the least expensive gas price averages in the country except for Florida, AAA noted.