LUBBOCK, Texas – Retail gasoline prices continued to drop across the state this week as gasoline stocks are hover around all-time highs, according to a news release from AAA Texas.
“Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month,” said AAA Texas spokesperson Daniel Armbruster.
The statewide average price for a gallon of regular unleaded fuel was reported at $2.091 on Saturday.
Of the major metropolitan areas surveyed by AAA Texas, drivers in Midland were paying the most on average, while the lowest prices could be found in the Sherman/Denison area.
The national average price for a gallon of regular unleaded fuel was reported at $2.440 on Saturday.
Crude oil prices are about $10 less a barrel compared to the beginning of the year
“There may be some volatility with crude oil prices, however, as many market analysts will be watching the economic impact of the coronavirus and whether the Organization of Petroleum Exporting Countries (OPEC) will consider further oil production cuts,” Armbuster said.
AAA Texas reported the average retail price in Lubbock was $2.097 on Saturday.
The website GasBudddy.com, however, reported an average retail price of $2.07 in the Hub City. The website also noted drives could find gas prices as low as $1.97 a gallon.