Texoma region gas prices are the cheapest of any metro area in the country, AAA Texas announced Thursday, June 18.
Sherman-Denison area drivers are paying $1.71 on average for a gallon of unleaded fuel, the travel agency listed in its Weekend Gas Watch, making the metro area’s gas the cheapest among Texas metros as well as the nation’s.
This week’s average is up a penny from last week’s while still being 62 cents lower than the average for the same day in 2019. Last year, gas cost $2.33 on average.
Statewide, gas prices averaged $1.82, two cents more than on the same day last week and 56 cents less per gallon compared to the same day last year.
Of the major metropolitan areas surveyed in Texas, drivers in El Paso are paying the most on average at $1.94 per gallon. The national average price for a gallon of regular unleaded is $2.11, which is three cents more compared to the same day last week and 57 cents less than the price per gallon at the same time last year.
“Motorists are paying higher prices at the pump as more drivers return to the roadways,” AAA Texas spokesperson Daniel Armbruster said in a press release. “And while Texas drivers are paying a little more at the pump this week, Texas ranks fifth in the country among states with the lowest gas price averages.”
Market analysts do not expect prices to spike to typical summer levels, the travel agency indicated in the release. That’s because demand won’t likely be sufficient enough to drive down stock levels.
This week, three other Texas cities also made the top 10 list for U.S. metro areas with the lowest gas price averages — Amarillo came in second, Lubbock came in fourth and Tyler came in ninth.
Regionally, gasoline stocks built by only 100,000 barrels, to 91.7 million barrels. Refinery utilization rates were reported by the Energy Information Administration at nearly 78%, a slight 2% increase from the week prior.
The minimal increases in stocks and refinery rates would typically mean smaller increases at the pump, especially with a utilization rate that is at its highest point in two months, according to an AAA analysis. Drivers could expect to see prices increase more slowly in the week ahead given the latest spikes.
Prices were up to date at press time using market prices posted at 3:41 a.m. Thursday.