Texarkana gas prices two cents above Texas average

Texarkana

Gas may be cheaper across the country, but the prices in Texarkana are two cents above Texas’ average.

According to new data from AAA Texas, the average price for a gallon of regular unleaded gasoline in the Texarkana area was $1.59, two cents above the statewide average of $1.57. In terms of the cities listed, Texarkana’s prices are either the 14th-cheapest or 13th-most expensive of the 27 metro area index.

The prices in the Twin Cities area is down five cents from last week, and a 93 cents from this same time in 2019. Compared to national averages this week, Texarkana’s gas prices are 24 cents lower.

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The cheapest gas in Texas is still in Sherman-Denison where drivers are paying $1.19 a gallon on average. The most expensive gas in the Lone Star State is in Midland at $1.82.

Gas is at its lowest level in Texas on average since February of 2016, and it is due to the stay-at-home orders and social distancing as a result from COVID-19.

Wisconsin leads the nation in cheapest gas on average at $1.26, and California is the most expensive on the U.S. mainland at $2.84. Texas is 11th-cheapest in the country with their $1.57 per gallon. In the last 20 years, the lowest statewide average in Texas was $1.02 on Dec. 26, 2001

“Gasoline prices have been on a steady decline around the Lone Star State since late February,” said AAA Texas spokesperson Daniel Armbruster. “And while the crude oil production cut is historic, it’s likely to not have an immediate impact on pump prices given the ongoing impact the COVID-19 pandemic continues to have on crude oil prices and gasoline demand.”

Nationally, the demand for gasoline is just below 5.1 million barrels per day, which is half the demand from a year ago according to the U.S. Energy Information Administration.

The Organization of Petroleum Exporting Countries plus (OPEC+) announced global crude production cuts with 10 million barrels per day slashed in May and June. The price for gas slumped after the news, and the expectation is gas will continue to be cheaper.