One-cent drop in Texarkana gas prices

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Gas prices have dropped one-cent in Texarkana over the last week.

According to new data from AAA Texas, the average price for a gallon of regular unleaded gasoline in the Texarkana area dropped one-cent from $1.91 to $1.90, tying with Abilene for the fifth-most expensive gas in the state. The most expensive gas is in El Paso at $2.02 a gallon, which is 15 cents higher than the statewide average but 15 cents lower than the national average.

The cheapest gas is in Sherman-Denison at $1.78 a gallon. Amarillo and Lubbock are tied for second place with $1.79 a gallon, while Tyler and San Antonio battled it out for fourth place at $1.80 a gallon.

Demand for retail gasoline has increased over the past week, which is why the average price of gas is up two cents. The regional supply levels also continue to grow, but demand levels are still below normal due to concerns surrounding the COVID-19 pandemic. Prices are still expected to bounce around in the coming days as regional markets keep adjusting. The demand should remain below normal because many students who would be returning to school at around this time will be beginning classes from home in a virtual setting.

“As regional markets readjust to lower than average demand levels, we expect to see continued pump price fluctuation,” said AAA Texas spokesperson Daniel Armbruster. This is primarily due to market forces trying to balance supply and demand.”

Arkansas, Alabama, and Texas are locked in for a three-way tie for third-cheapest gas at $1.87. Louisiana is second with $1.85, and Mississippi is first with $1.82.