AUSTIN (KXAN) — Gas prices in Texas have dropped more than $1.50 since record highs set a year ago today.
On June 15, 2022, a gallon of regular unleaded gas in Texas cost an average of $4.70. Today, the statewide average is $3.14, a drop of $1.56, according to AAA data. That’s a decrease of 33%.
Drivers in El Paso are paying the most at the pump, with an average of $3.39 per gallon. San Angelo has the cheapest gas currently, at $2.95 a gallon. The McAllen and Brownsville metro areas also have averages at or below $3 a gallon.
The map below shows average prices in metro areas across Texas. The darker the red, the higher the price.
There are several factors that can explain why some cities see higher gas prices than others. AAA says individual retailers set their own prices, so local supply and demand can cause prices to fluctuate. Distribution costs also factor in, as well as global crude oil supply.
Prices in Texas — and across the country — surged last year in the wake of Russia’s invasion of Ukraine. Global supply and demand fluctuations because of the COVID-19 pandemic also played a role.
Since then, average prices in Texas have dropped anywhere from $1.41 to $1.66 depending on the metro. The map below shows how prices have changed since the record highs in June. The darker the blue, the more cost savings that metro has seen.
Prices have decreased the most in the Sherman-Denison metro, north of Dallas. Prices there have dropped by $1.66 from a record high of $4.82 on June 16. Dallas and Fort Worth have both seen decreases of $1.64 since their respective peaks.
San Antonio drivers have seen a drop of $1.59 since record highs, while prices in the Houston metro are down $1.58. Gas prices in Austin have fallen by $1.55 over the past year.
Prices in Amarillo have decreased the least — down $1.41. Amarillo hit a peak of $4.60 on June 14, 2022.
The statewide average of $3.14 means Texas currently has among the cheapest gas in the nation, tied with Arkansas. Prices are lower in Mississippi ($3.01) and Louisiana ($3.13).
Average prices are above $4 a gallon in nine states. California currently has the most expensive gas in the nation, at $4.88 a gallon.
Delaware and Indiana have seen the largest drop in prices of any state, each down $1.63 since the record highs there. Michigan is next, with a decrease of $1.62. A total of 17 states, including Texas, have have seen declines of $1.50 or more.
AUSTIN (KXAN) — Gas prices in Texas have dropped more than $1.50 since record highs set a year ago today.
On June 15, 2022, a gallon of regular unleaded gas in Texas cost an average of $4.70. Today, the statewide average is $3.14, a drop of $1.56, according to AAA data. That’s a decrease of 33%.
Drivers in El Paso are paying the most at the pump, with an average of $3.39 per gallon. San Angelo has the cheapest gas currently, at $2.95 a gallon. The McAllen and Brownsville metro areas also have averages at or below $3 a gallon.
The map below shows average prices in metro areas across Texas. The darker the red, the higher the price.
There are several factors that can explain why some cities see higher gas prices than others. AAA says individual retailers set their own prices, so local supply and demand can cause prices to fluctuate. Distribution costs also factor in, as well as global crude oil supply.
Prices in Texas — and across the country — surged last year in the wake of Russia’s invasion of Ukraine. Global supply and demand fluctuations because of the COVID-19 pandemic also played a role.
Since then, average prices in Texas have dropped anywhere from $1.41 to $1.66 depending on the metro. The map below shows how prices have changed since the record highs in June. The darker the blue, the more cost savings that metro has seen.
Prices have decreased the most in the Sherman-Denison metro, north of Dallas. Prices there have dropped by $1.66 from a record high of $4.82 on June 16. Dallas and Fort Worth have both seen decreases of $1.64 since their respective peaks.
San Antonio drivers have seen a drop of $1.59 since record highs, while prices in the Houston metro are down $1.58. Gas prices in Austin have fallen by $1.55 over the past year.
Prices in Amarillo have decreased the least — down $1.41. Amarillo hit a peak of $4.60 on June 14, 2022.
The statewide average of $3.14 means Texas currently has among the cheapest gas in the nation, tied with Arkansas. Prices are lower in Mississippi ($3.01) and Louisiana ($3.13).
Average prices are above $4 a gallon in nine states. California currently has the most expensive gas in the nation, at $4.88 a gallon.
Delaware and Indiana have seen the largest drop in prices of any state, each down $1.63 since the record highs there. Michigan is next, with a decrease of $1.62. A total of 17 states, including Texas, have have seen declines of $1.50 or more.