Gas prices continue to fall in Austin and Texas

FILE – Gasoline prices are shown at a gas station on June 9, 2022, in Salt Lake City. The average U.S. price of regular-grade gasoline plunged 19 cents over the past two weeks to $4.86 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday, July 10, 2022, that the continued decline comes as crude oil costs also fall. (AP Photo/Rick Bowmer, File)

by: Daniel Gravois

Posted: Jul 16, 2022 / 06:04 AM CDT

Updated: Jul 16, 2022 / 06:04 AM CDT

AUSTIN (KXAN) — Drivers in the Austin area are seeing continued price relief at the pump.

According to AAA, the average price of a gallon of regular gas in Austin-San Marcos is $4.08. That is 62 cents less than the record set on June 14.

AAA says the average price of a gallon of regular gas in Texas is $4.07. That is 63 cents less than the record set on June 15. Only Georgia and South Carolina have lower average prices at $4.06 and $4.05 a gallon, respectively.

According to AAA, lower prices are due to a decrease in demand for gas and the decline in the price of oil.

The price of West Texas Intermediate Crude closed at $97.59 on Friday. It closed at $122 as recently as June 7.