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By AAA Texas
Special to The Post Dispatch
Post drivers are still paying $2.89 a gallon for regular unleaded gas this week. The statewide gas price average in Texas is $2.76 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is one cent more than on this day last week and is 94 cents more per gallon compared to this day last year.
Drivers in El Paso are paying the most on average at $3.10 while drivers in Amarillo are paying the least at $2.64 per gallon. Lubbock drivers are paying $2.71 per gallon. Dallas and Ft. Worth drivers are averaging $2.72 this week. The national average price for a gallon of regular unleaded is $3.07, which is the same price when compared to last week and 97 cents more than the price per gallon at this same time last year.
According to the latest data from the Energy Information Administration, the U.S. gasoline demand number jumped back above nine million barrels a day – hitting just below 9.4 million barrels per day. Regional fuel supplies decreased slightly, and Gulf Coast refinery utilization registered flat from the week prior. As demand for gasoline rises, crude oil prices have also been on the increase, which has contributed to more expensive pump prices. Market analysts are keeping a close eye on global supply and demand levels. They are especially eager to see if the Organization of the Petroleum Exporting Countries (OPEC), and its allies including Russia, follow through with production increases next month. OPEC’s move could help put downward pressure on crude oil prices and, in turn, push gas prices less expensive. However, motorists likely would not see any impact at the pump until mid-to-late July.
“As millions of Texans get ready to embark on summer road trips, they’ll be paying nearly one dollar more for a gallon of gasoline when compared to last summer,” said AAA Texas spokesperson Daniel Armbruster. “Motorists can reduce fuel costs by driving the speed limit and accelerating smoothly with light to moderate throttle.”