LUBBOCK, Texas – Retail gasoline prices continued to drop across the state and the national this week as stocks continue to grow, according to a news release from AAA Texas.
“Gasoline stocks are at their highest level since tracking began in 1990,” said AAA Texas spokesperson Daniel Armbruster. “As supplies continue to build, demand remains low, forcing gas prices down even further.”
The statewide average price for a gallon of regular unleaded fuel was reported at $2.145 on Saturday.
Drivers in Midland were paying the highest prices in the state this week, while the cheapest gas prices could be found in the Sherman/Denison area.
AAA Texas said all major cities surveyed this week have fuel price averages below the national average.
The national average price for a gallon of regular unleaded fuel was reported at $2.477 on Saturday.
The recent stock builds will likely drive gas prices cheaper for motorists across the region amid lower winter gas demand, AAA Texas said.
Energy Information Administration data showed the South and Southeast region saw a build of 1 million barrels, measuring total stocks at 95.3 million barrels this week.
That is the highest regional stock level on record since the EIA began keeping track.
In the Hub City, AAA Texas reported the average retail price was $2.145 on Saturday.
The website GasBudddy.com reported an average retail price of $2.10 in the Hub City. The website also noted drives could find gas prices as low as $1.99 a gallon.
