The average price for a gallon of regular unleaded gasoline in Texas is $3.48, one penny more than the average last week, according to the AAA Texas Weekend Gas Watch.
The national average is $3.65, two cents more than last week. The statewide average price is 17 cents less than the national average. The most expensive gasoline average in the state is in Amarillo at $3.58. Houston is reporting the least expensive average in the state at $3.43 for a gallon of regular unleaded. The least expensive gas in Sweetwater is $3.58 for a gallon of regular unleaded.
Oil is currently trading on the market at about $86 per barrel. Market analysts say with the recent U.S. jobs report showing no growth, and continued global economic concerns, there is an expectation that a weaker global economy will demand less oil. However, according to weather experts 2011 could continue to experience a busy hurricane season with the potential to have several more named storms which can also impact oil prices. Hurricane concerns in the Gulf and East Coast have kept upward pressure on gasoline prices at the pump, even as relatively lower crude prices have exerted downward pressure on prices. Hurricane season runs through November.
“The statewide average price for a gallon of regular unleaded increased one cent since last week," said AAA Texas/New Mexico Public Affairs Representative Sarah Schimmer in Houston. “Today’s statewide average is 41 cents less than the current high price for the year of $3.89 that was reached on May 13.”