TEXARKANA — Gas prices in Texarkana dropped three cents over the past week.
According to data from AAA Texas, the average price for a gallon of regular unleaded gasoline fell from $2.26 a week ago to $2.23, tied with Killeen-Temple-Fort Hood for the 11th-cheapest prices in the state.
The most expensive prices were in Midland where drivers are paying $2.49 per gallon. The cheapest gas in Texas can be found in the Sherman-Denison area where motorists are paying $2.13 on average.
The $2.23 in Texarkana is up 33 cents compared to what drivers were paying a year ago at this same time. Nevertheless, Texarkana’s prices are 31 cents cheaper than the national average.
The growing geopolitical concerns with Iran and crude oil price fluctuation wasn’t enough to prevent gas prices from falling across the United States. Texarkana drivers, along with all Lone State State motorists, are benefiting from a healthy and growing level of regional gasoline stocks along with decreasing demand, which show up in lower prices at the pump.
“Increasing gasoline supplies continue to help put downward pressure on pump prices,” said AAA Texas spokesperson Daniel Armbruster. “As long as supplies remain healthy and demand for gas is low, drivers should continue to see lower pump prices.”
Total gas stocks in the region grew to 32.65 million barrels week-to-week, according to the Energy Information Administration. The supply level is almost two million barrels higher than last year’s level at this same time. This supply level should help prices continue to drop throughout the week.