AUSTIN (KXAN) — Gas prices in Texas have dropped by a third since hitting record highs nine months ago today.
On June 15, 2022, a gallon of regular unleaded gas in Texas cost an average of $4.70.
As of Wednesday, the statewide average is now $3.07, a drop of $1.63, according to AAA data. That’s a decrease of 34.7%.
Drivers in El Paso are paying the most at the pump, with an average of $3.36 per gallon. Abilene has the cheapest gas currently, at $2.95 a gallon. The Wichita Falls, Beaumont, Houston and San Angelo metro areas also have averages below $3 a gallon.
The map below shows average prices in metro areas across Texas. The darker the red, the higher the price.
There are several factors that can explain why some cities see higher gas prices than others. AAA says individual retailers set their own prices, so local supply and demand can cause prices to fluctuate. Distribution costs also factor in, as well as global crude oil supply.
Prices in Texas — and across the country — surged last year in the wake of Russia’s invasion of Ukraine. Global supply and demand fluctuations because of the COVID-19 pandemic also played a role.
Since then, average prices in Texas have dropped anywhere from $1.37 to $1.74 depending on the metro. The map below shows how prices have changed since the record highs in June. The darker the blue, the more cost savings that metro has seen.
Prices have decreased the most in the Sherman-Denison metro, north of Dallas. Prices there have dropped by $1.74 from a record high of $4.82 on June 16. Dallas, Fort Worth, Abilene, Houston, Galveston and Longview have all seen decreases of $1.70 or more since their respective peaks.
Austin-San Marcos drivers have seen a drop of $1.60 since record highs, while prices in the San Antonio area are down $1.58.
Prices in Midland have decreased the least — down $1.37. Midland hit a peak of $4.52 on June 11, 2022.
The statewide average of $3.07 means Texas currently has among the cheapest gas in the nation, tied with Arkansas. Prices are lower in Missouri ($3.05), Oklahoma ($3.04) and Mississippi ($3.01).
Illinois has seen the largest drop in prices of any state, down $1.92 since the record high there. Indiana is next, with a decrease of $1.80. Three other states and the District of Columbia have seen declines of $1.75 or more.
Average prices are above $4 a gallon in four states: Washington ($4.25), Nevada ($4.32), Hawaii ($4.85) and California ($4.90).