Texas Drivers See First Gas Price Drop in Six Weeks

As we enter the weekend, Texans can finally breathe a sigh of relief. Gas prices are finally going down after weeks of increases. This will be the first time in six weeks that we have seen prices drop.

Texas Gas Prices Drop for First Time in Weeks

AAA Texas reports the average price for regular gas is now $3.74, down 13 cents from last week.

The national average is $4.09 per gallon, also dropping this week by 8 cents. Gas prices are still high, but are finally offering a little relief.

What Drivers Are Paying Across Texas

Amarillo and Lubbock are tied for the cheapest gas in Texas this week. Although Lubbock still has some of the lowest gas prices, costs rose 7 cents. El Paso takes the top spot for the highest prices this week, even though they are 4 cents lower than last week.

• Amarillo: $3.38 (down 3 cents)
• Lubbock: $3.38 (up 7 cents, tied for lowest)
• Midland: $3.65 (down 23 cents)
• Tyler: $3.67 (down 10 cents)
• El Paso: $3.97 (down 4 cents, highest)

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What Caused the Drop in Gas Prices

Gas prices dropped as crude oil stayed under $100 per barrel. At the time of publishing, it was sitting around $94 per barrel, according to oilprice.com. The temporary ceasefire in the Middle East has also contributed to the drop in gas prices.

Texas drivers are seeing some welcome movement at the pump as crude oil prices remain below $100 a barrel, said Daniel Armbruster, AAA Texas spokesperson. That’s helped ease pressure on gas prices for now, but the situation remains fluid, and any escalation involving the Strait of Hormuz could quickly affect energy markets.

Why Prices Could Still Change Quickly

It would be nice if prices continued to drop, but the markets are still sensitive to global tensions at the moment. Disruptions in shipping are still a major concern. Right now, the markets need stability more than volatility.

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What This Means for Texas Drivers

If oil stays under $100, prices should keep dropping. But if tensions rise again, expect prices to climb. We are seeing a dip at the moment, and hopefully that will continue.

However, the summer travel season is approaching, and that typically brings higher gas prices.