The cost of a fill-up remained largely unchanged this week — but Texas drivers still have extra cause to celebrate this Independence Day weekend, with the lowest Fourth of July gas prices in 16 years.
The statewide average price for a gallon of regular unleaded remained at $1.89, AAA reported Thursday — 55 cents lower than the price this time last year. The U.S. average gas price inched up a penny on the week, to $2.18 a gallon — also 55 cents less than in 2019.
Of the major metropolitan areas surveyed in Texas, drivers in Midland and Odessa are paying the most on average at $1.99, while drivers in the Sherman-Denison area are paying the least at $1.79 per gallon.
Drivers in the Dallas-Fort Worth region saw slightly lower gas prices on the week, with the average price in Dallas dropping a cent to $1.91 a gallon and the average price in Fort Worth-Arlington dropping 2 cents to $1.89.
In Denton, GasBuddy.com on Thursday listed the lowest available price as $1.75, found at the Sam’s Club station off West University Drive. That price is 6 cents more than the lowest reported price two weeks ago.
While gas prices had been steadily increasing for eight consecutive weeks, they’re now holding steady, AAA noted. Saturday will mark the first Independence Day that Texas drivers have filled up for less than $2 per gallon, on average, since July 4, 2004.
According to new data from the Energy Information Administration (EIA), gas demand took a slight step back to 8.56 million barrels per day from 8.61 million barrels per day last week. Alongside decreasing demand, total domestic gasoline supplies grew by 1.2 million barrels to 256.5 million last week, AAA reported.
The statewide average holding steady means that gasoline supply and demand are largely in sync across Texas. If these trends continue, drivers could see pump price increases slowly or hold steady through the holiday weekend, AAA noted.