Average Texas gas prices fall below $3 for the first time since January

With millions of Texans hitting the road for the Thanksgiving holiday, drivers are seeing the cheapest gas prices in months.

AAA Texas says the statewide average price for a gallon of regular unleaded gas is $2.97, down 13 cents from last week and 4 cents less than a year ago.

Texas has the cheapest gas in the country, according to AAA.

Dallas Love Field Airport parking spots will be tough to snag this Thanksgiving weekend

Nationwide, the average gallon of gas costs $3.64.

It is the first time the state gas price average fell below $3 a gallon since mid-January.

For many driver the falling prices are a reason to give thanks this holiday season.

"It helps me save money and get more gifts for the family," said Christopher Anderson.

"I love that they are coming down, I really do," said Ellwyn Stokel who is in town from Virginia visiting family.

It was one year ago this week that President Biden first announced released oil from the strategic petroleum reserve as prices surged.

Last month, he authorized the release of another 15 million barrels, completing the plan to release a total of 180 million barrels.

"It is nice that it's going down a little bit for a change, but at what cost? More strategic reserves being released, elections just come up. It's nice, but it will go back up, I think," said Richardson resident Zach Nuss.

Market analysts say the falling gas prices are due to sinking oil prices. West Texas Intermediate crude oil is selling for less than $80 a barrel for the first time since the beginning of the year.

AAA Texas says 4 million Texans are planning to travel at least 50 miles away from home this Thanksgiving, with 3.6 million driving.

"Top places we are seeking Texas Travelers book: Texas Hill Country, Santa Fe New Mexico, Colorado Ski areas, Gulf Coast Beaches, and Carolina Coast, Beaches, Mountains, Hill Country, positive destinations for people looking for a little bit of vacation and a little bit of Thanksgiving, said Daniel Armbruster of AAA Texas.

Armbruster says the best times to beat traffic james are before 11 a.m. and after 8 p.m.

"Be careful about drowsy driving it can be just as dangerous as intoxicated driving. Get plenty of sleep, not distracted never impaired pack your patience," he said.

Cheapest Gas in Texas

  1. McAllen-Edinburg $2.77
  2. Corpus Christi $2.79
  3. Brownsville-Harlingen $2.79
  4. Sherman-Denison $2.80
  5. Victoria $2.83

Most Expensive Gas in Texas

  1. Midland $3.19
  2. Odessa $3.14
  3. Wichita Falls $3.11
  4. El Paso $3.10
  5. College Station-Bryan $3.07