Area gas prices dip again; Texas remains cheapest in U.S.

February 22, 2018 - 8:09 am

AUSTIN (KJCE) -- Gas prices continued their downward trend this week, according to the latest numbers from AAA Texas.

The average price for a gallon of regular unleaded across the Austin area is $2.27, down four cents from $2.31 a week ago. That average is 20 cents higher than this time in 2017.

Statewide, drivers across Texas continue to enjoy the lowest average in the nation at $2.26, also down four cents from $2.30 a week ago. The national average is also down on the week, three cents to $2.52 a gallon.

Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.54 while drivers in Fort Worth and Arlington are paying the least at $2.15 per gallon.

The national gas price average has been steadily decreasing for more than two weeks, dropping from the year-to-date high of $2.61 on February 5. Motorists in nearly every state are paying less on the week with Midwest and Southern states seeing the largest price drops at the pump. In Texas, drivers are seeing average gas prices lower than any state in the nation. This marks the fourth time in 2018 that Texas has had the lowest statewide average.

"Texans continue to enjoy the lowest statewide gas price average in the nation with most drivers paying about four cents less per gallon compared to last week," said Daniel Armbruster with AAA Texas. "As Texans prepare to enjoy Spring Break road trips in the coming weeks, AAA Texas reminds everyone to drive responsibly by buckling up, monitoring speeds, avoiding distractions and never getting behind the wheel after drinking alcohol."

Every state in the South and Southeast is paying 4 to 8 cents less at the pump over last week. However, market analysts say with a handful of major refineries undergoing maintenance, the downward trend in retail gas prices may not last for long. While it’s too soon to say when the trend could change, analysts note that if production slows at a high rate and/or if crude oil prices jump, these events could have an effect on prices in late February or March.

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