Gas prices in the Texarkana area went up one cent as the nation prepares to travel for the Memorial Day weekend.
According to AAA Texas, the average price for a gallon of regular unleaded gasoline increased in Texarkana from $2.80 to $2.81, a one-cent price increase over the past week. The prices are $1.16 higher than they were the same time a year ago, eight cents higher than the Texas statewide average, and 23 cents lower than the national average.
Texarkana’s prices are the fourth-most expensive in the state of Texas. Midland ($2.99), Odessa ($2.97), and the Fort Worth-Arlington area ($2.87) had higher gas prices than the Twin Cities area.
The cheapest gas in the state is in Amarillo at $2.56, a four-cent price reduction over the past week.
The Energy Information Administration says that U.S. gasoline demand jumped to nearly 9.5 million barrels per day in the week ending in May 21. The last time the EIA recorded a national demand at more than 9.5 million barrels and above was in mid-March 2002, just before the lockdowns hit. Regional fuel supplies decreased slightly with Gulf Coast refinery utilization registering flat from the week before. Demand for gas is anticipated to remain higher when compared to last year as AAA predicts millions more people are prepping for the Memorial Day weekend with Texas expected to have 2.8 million people driving 50 miles or more to their destinations.
The gas prices in Texas for the Memorial Day weekend is similar to prices from the 2018 holiday weekend.
“Gasoline demand was projected to rise, and that’s exactly what’s happening, due to several factors including increasing vaccination rates and growing consumer confidence,” said AAA Texas spokesperson Daniel Armbruster. “Consumption of fuel should remain strong as Memorial Day approaches and Texas is expected to see a strong rebound in the number of people traveling by automobile compared to last year’s holiday weekend.”
Mississippi is the cheapest in the country at $2.71. Louisiana is second at $2.72, and Texas is tied with Missouri at No. 3 at $2.73. Oklahoma is No. 5 at $2.75. Arkansas is No. 6 at $2.76.