The average price for a gallon of regular unleaded gasoline in Texas is $3.38, six cents less than the average last week, according to the AAA Texas Weekend Gas Watch.
The national average is $3.56, also six cents less than last week. The statewide average price is 18 cents less than the national average. The most expensive gasoline average in the state is in Amarillo at $3.47. Ft. Worth is reporting the least expensive average in the state at $3.30 for a gallon of regular unleaded. Sweetwater’s gas price is currently $3.48 for a gallon of regular unleaded.
Market analysts say as the financial climate overseas becomes more uncertain, U.S. dollars become a more attractive investment, driving up the value of the dollar. Commodities, including crude oil, are traded in U.S. dollars, and as the dollar strengthens compared to currencies abroad, the effective price of oil and other products for those outside of the U.S. becomes more expensive. Oil futures become a less attractive investment and prices are pressured downward. Crude oil is trading on the market between $86 and $88 per barrel.
“The statewide average price for a gallon of regular unleaded decreased six cents since last week," said AAA Texas/New Mexico Public Affairs Representative Sarah Schimmer in Houston. “Today’s statewide average is 51 cents less than the current high price for the year of $3.89 that was reached on May 13.”