Lubbock's gas prices are down eight cents this week

Lubbock's gas prices down eight cents this week

On average this week, gas prices in Lubbock are $2.42 per gallon. Statewide, gas is $2.41 which is 31 cents down from the national average at $2.72.

 

Here is more information given by AAA Texas:

Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.64 while drivers in McAllen are paying the least at $2.22 per gallon. The national average price for a gallon of regular unleaded is $2.72, which is six cents less than this day last week and 18 cents less than the price per gallon at this same time last year.

Across Texas, gas price averages in every city surveyed by AAA dropped week-to-week, with the exception of Dallas, Laredo and Sherman. Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand. Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand.

“As long as supply keeps pace with demand and crude oil prices remain low, Texans will continue to see savings at the gas pump this summer,” said Daniel Armbruster, AAA Texas spokesperson. “Regional gasoline stock inventories are at the largest level on record for early June.”

Gasoline stock inventories sit ahead of this time last year and are at the largest level for this time of year (early June) on record for the region, per Energy Information Administration data. If high inventory levels remain in place, drivers in the southern region of the U.S. can expect to see even cheaper gas prices throughout the summer.

Prices up to date at press time using market prices posted at 3:41 a.m. Motorists can find current gas prices along their route with the free and revamped AAA App for iPhone, iPad and Android. The app can also be used to map a route and learn traffic conditions along that route, find discounts, locate parking, book a hotel and request and track AAA roadside assistance. Learn more at www.AAA.com/mobile.

To help members and non-members identify quality auto repair shops that can assist in the maintenance and repair of their vehicles, AAA offers the Approved Auto Repair program as a free public service. AAA-approved repair facilities meet and maintain high professional standards for training, equipment, cleanliness and customer service. Motorists can look for the Approved Auto Repair sign at local auto repair facilities, or search for a nearby AAA-approved shop online at AAA.com/Repair. AAA Texas branch offices throughout the state can be found by visitingwww.AAA.com. Follow AAA Texas on Twitter: @AAATexas and Facebook: www.facebook.com/AAATexas. Find additional news from AAA Texas in our online newsroom athttp://tx-aaa.iprsoftware.com/.

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