Texas Gas Prices Ease Slightly, But Relief May Not Last

You've put it off as long as you possibly can. You pull up to the pump, put the nozzle into your gas tank, and cry as you choose your octane. You know you'll need a loan to pay for this tank. The stress of filling up your tank has gotten ridiculous. It's not much relief, but Texas gas prices did drop a bit this week.

Texas Gas Prices By The Numbers

According to AAA Texas, the average price of gas in Texas this week is $3.94. This is 2 cents cheaper than last week. It's not much, but it's something. McAllen once again has the cheapest gas at $3.74 per gallon, while El Paso is still the most at $4.34. The national average dropped 7 cents from last week to $4.41.

How Texas Cities Compare

• Amarillo: $4.04 - Last week: $3.99 - up 5 cents from last week
• Lubbock: $4.02 - Last week: $4.08 - down 6 cents from last week
• Midland: $4.11 - Last week: $3.96 - up 15 cents from last week
• Odessa: $4.09 - Last week: $3.96 - up 13 cents from last week
• Tyler: $3.92 - Last week: $3.95 - down 3 cents from last week
• Abilene: $3.87 - Last week: $3.95 - down 8 cents from last week
• El Paso: $4.34 - Last week: $4.52 - down 18 cents from last week

See what your city is paying this week here. Of the cities listed in the full chart, 16 saw price decreases and 11 saw price increases.

Read More: Texas Gas Prices Last Week

Why Gas Prices Could Rise Again

Hopefully, now that we have moved into October, the prices will continue to decrease.

September was a record-setting month at the pump for Texas drivers, with the statewide average for regular unleaded reaching its highest September level on record,” said Daniel Armbruster, spokesperson for AAA Texas.

What's Happening With Oil Prices

According to OilPrice.com, Brent crude is $100.90 this week, while WTI crude is at $91.75.

Patrick De Haan, an analyst for GasBuddy, said the rejection of Iran’s proposal to reopen the Strait of Hormuz has renewed concerns in the oil market. The proposal had given the market some hope that diplomacy could ease tensions, but the U.S. rejection quickly erased those expectations. With the potential for military operations to resume, oil prices are reacting to the increased uncertainty.

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It seems gas prices are a wait-and-see game. Hopefully that game ends with gas prices below $3 again, especially diesel.