Texas Gas Prices Slide as U.S. Plans 40 Million Barrel Oil Reserve Release

Are you prepared for the pump this week? Will putting that nozzle in your tank make you cringe? Well, hopefully not as much, since gas prices in Texas have seen a slight drop for the second week in a row.

Hurricane Isaias appears to be heading away from impacting Texas refineries as of Thursday morning, and gas prices are currently on a downward trend throughout most of Texas and nationwide,” said Daniel Armbruster, spokesperson for AAA Texas.

How Much Is Gas in Texas This Week?

According to AAA Texas, the average gas price in Texas is $3.87 per gallon of regular unleaded, down a few cents from last week. San Antonio is paying the least at $3.76 per gallon. El Paso still holds the top spot for most expensive at $4.46 per gallon. El Paso also saw the biggest increase in Texas, a 12-cent jump. The Texas diesel average is $5.70. The national average for gas is $4.36 per gallon, which is down 5 cents from last week.

Texas Gas Prices by City

• Amarillo: $3.97 - Last week: $4.04 - down 7 cents from last week
• Lubbock: $3.94 - Last week: $4.02 - down 8 cents from last week
• Midland: $3.87 - Last week: $4.11 - down 24 cents from last week
• Odessa: $3.88 - Last week: $4.08 - down 20 cents from last week
• Abilene: $3.80 - Last week: $3.86 - down 6 cents from last week
• Tyler: $3.82 - Last week: $3.91 - down 9 cents from last week
• El Paso: $4.46 - Last week: $4.34 - up 12 cents from last week

For the full list of gas prices in other Texas cities, click here.

Read More: Texas Gas Prices Ease Slightly, But Relief May Not Last

What Are Crude Oil Prices Doing Right Now?

According to OilPrice.com, Brent crude is at $105 per barrel, while WTI crude is at $92.64 per barrel.

According to Patrick De Haan with GasBuddy, oil prices started the week mixed as supply developments helped offset ongoing tensions in the Middle East. Crude exports from the region have increased, while the G7 is preparing to release emergency reserves. In the U.S., WTI prices have moved lower, helped in part by plans to release 40 million barrels from the Strategic Petroleum Reserve, while global concerns continue to keep Brent prices elevated. The difference between the two benchmarks could also lead to stronger U.S. crude exports in the weeks ahead.

Read More: Texas Moves to Remove Tax on Delivery App Fees

Enjoy the lower prices, and hopefully this downward trend continues.