Average gas prices fell 11 cents over the week in the Texoma region, AAA Texas announced Thursday, Aug. 15.
Drivers in the Sherman-Denison metro area saw prices for a gallon of unleaded fuel land at $2.20 as of Thursday, down from $2.31 on average last week. This week’s prices were 36 cents lower on average than this time last year, the travel agency indicated in its Weekend Gas Watch.
Statewide, gas prices were averaging $2.37 per gallon on Thursday, six cents less than on the same day last week and 24 cents less per gallon compared to the same day last year.
Of the major metropolitan areas surveyed in Texas, drivers in Midland and Odessa are paying the most on average at $2.59 while drivers in McAllen are paying the least at $2.19 per gallon. Domestic gasoline stocks built by a surprising 4.4 million barrels, according to the Energy Information Administration’s latest data. Contributing to the build was at least 1.2 million barrels per day of imports at U.S. ports. With the large bump, stocks now sit at levels not seen since the end of March, according to a AAA analysis.
“Most Texans are saving nearly a quarter or more per gallon at the pump compared to this same time last year,” Daniel Armbruster, AAA Texas spokesperson said in a press release. “Gasoline supplies continue to increase and are now at levels not seen in five months, forcing prices lower.”
The latest weekly declines continue to position the South and Southeast as the region with the cheapest gas, with Texas and six other southern and southeastern states among the 10 least expensive averages in the country.
Prices were up to date at press time using market prices posted at 3:41 a.m. Thursday.