Heading into Labor Day weekend, San Antonio drivers are paying some of the lowest gas prices in Texas and across the country.
The average price for regular gasoline in the eight-county San Antonio metro area was $1.77 per gallon on Thursday, according to GasBuddy, a gas price tracking site.
Statewide, motorists this weekend will pay on average $1.91 per gallon for gas, the lowest price across the state in 16 years, according to AAA Texas.
On ExpressNews.com: San Antonio drivers pay some of the cheapest gas prices in the U.S.
Since oil prices bottomed out in late April amid the economic shutdown, they rose in May and June. The price for a barrel of oil has been stable since early July.
West Texas Intermediate, the U.S. oil benchmark, has hovered between $40 and $42 dollars per barrel for much of the last two months.
The stability comes even as Hurricane Laura last month forced Gulf Coast oil refineries to shut down. Still, reduced demand for gasoline nationwide offset the disruptions to the oil industry, analysts said.
In less economically dicey times, such disruptions would result in oil price spikes.
“This shows just how much of an impact the COVID-19 pandemic has had on fuel prices, even after a major hurricane interrupted refinery operations in the Gulf of Mexico,” AAA Texas spokesperson Daniel Armbruster said.
On ExpressNews.com: Flux: A woman’s view in the male-dominated oil and gas industry
The low gas prices come as officials urge travelers to be cautious over the Labor Day weekend to help limit spread of the coronavirus.
“The issue that we’re facing right now is we’re entering ... into the Labor Day weekend, and we know from prior experience that when you get into holiday weekends, the Fourth of July, Memorial Day, there’s a tendency of people to be careless somewhat with regard to the public health measures,” Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said in a television interview Thursday. “We really still need to get our arms around this and to suppress these types of surges that we’ve seen.”
diego.mendoza-moyers@express-news.net
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September 04, 2020 at 12:00PM
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San Antonio drivers paying lowest Labor Day gas prices in 16 years - San Antonio Express-News
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