Gas prices in the Texoma region remained steady this week even as fuel costs dropped across the state.
The average price of a gallon of unleaded fuel remained at $2.31 this week in the Sherman-Denison metro area, AAA Texas announced Thursday, June 13, in its Weekend Gas Watch. While that’s the same as it was last week, it’s still 34 cents lower than at the same time last year, the travel agency indicated.
Statewide, prices are averaging $2.41 per gallon — four cents less than last Thursday and 32 cents less per gallon compared to the same day last year.
Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.64 while drivers in McAllen are paying the least at $2.22 per gallon.
Across Texas, gas price averages dropped in every city surveyed by AAA except for Dallas, Laredo and Sherman.
Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand, an AAA analysis shows. Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand.
“As long as supply keeps pace with demand and crude oil prices remain low, Texans will continue to see savings at the gas pump this summer,” said Daniel Armbruster, AAA Texas spokesperson. “Regional gasoline stock inventories are at the largest level on record for early June.”
Gasoline stock inventories sit ahead of this time last year and are at the largest level for this time of year on record for the region, per Energy Information Administration data.
If high inventory levels remain in place, drivers in the southern region of the U.S. can expect to see even cheaper gas prices throughout the summer.
Prices were up to date at press time using market prices posted at 3:41 a.m. Thursday.