Lower demand equals cheaper gas prices in Texarkana

Texarkana

The lower demand for gasoline across the United State has had an effect on the gas prices in Texarkana, where the average cost for a gallon of regular unleaded gas is $2.03.

According to new data from AAA Texas, the $2.03 price is tied with Abilene, Corpus Christi, Dallas, Fort Worth-Arlington, Laredo, and Waco for the eighth-cheapest gas in the state. The cheapest gas can be found in Sherman-Denison, where gas prices continue to lead the state in lower prices. Motorists in that region are paying $1.92 gallon on average.

The most expensive gas in Texas is in Midland, where drivers are paying $2.34 a gallon. Nevertheless, that average price is a full nine cents lower than the national average of $2.43.

https://agents.farmers.com/tx/texarkana/james-estes?SourceID=AMPL001L001&utm_source=Powerlistings&utm_medium=Local

Other metro areas in the sub-$2.00 range include McAllen ($1.93), Brownsville-Harlingen ($1.97), and El Paso ($1.99). The last time AAA Texas reported gas prices below $2.00 a gallon for entire state was in January of 2019.

Compared to data from this same time last year, Texarkana motorists are paying five cents more. Last year, the average price of a gallon of gas was $1.98.

“Gasoline stocks persist at a healthy level and demand remains at winter-like readings which is leading to lower gas prices,” said AAA Texas spokesperson Daniel Armbruster. “Market analysts will be watching closely, however, to see if the Organization of the Petroleum Exporting Counties (OPEC) will cut crude production due to the impact of the coronavirus on global oil demand.”

Except for Florida, the south and the southeast regions of the country have some of the least expensive gas prices.