Texas gas price averages fall as oil reserves set to be released
NORTH TEXAS (CBSDFW.COM) - According to AAA Texas, the statewide gas price average is $3.77 for a gallon of regular unleaded fuel. That price is eight cents less than on this day last week and is $1.18 more per gallon compared to this day last year.
Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $3.90 per gallon while drivers in Amarillo are paying the least at $3.52 per gallon.
Those filling up their tanks in North Texas -- Arlington, Dallas, and Fort Worth -- are paying an average $3.68 a gallon for fuel.
Retail gas and global crude oil prices have been sinking on the news of a coordinated release from strategic petroleum reserves. The additional 120 million barrels of oil are set to come from the International Energy Agency.
"The latest round of headlines about oil reserve releases have been driving retail gas and crude oil prices down," said AAA Texas spokesperson Daniel Armbruster. "Gasoline demand also hasn't been as strong over the past few weeks, but that will likely change as we move closer to the summer driving season."
Drivers in Texas are paying the 7th lowest gas price average in the country.