HOUSTON — Right now, Texas drivers are paying the lowest gas prices on average in the country. That’s according to AAA. This week, the average price of a regular gallon is $2.84 in the Lone Star State. Meanwhile, the national average is $3.47.
Gas prices in Texas have been falling for seven weeks straight, but that streak could soon be coming to an end.
There are a couple possible bumps in the road ahead, according to the AAA. OPEC Plus, which is an organization of oil producing nations, including Russia, is scheduled to meet this weekend, and there is a good chance the group will call for cuts to crude oil production.
But experts warn that trying to predict what OPEC Plus will do is tricky.
The other issue is demand. China is under increasing pressure to ease its harsh COVID crackdown. An uncharacteristic wave of protests against the country’s COVID rules have forced leaders to loosen some of its policies.
As restrictions are eased, more people in China will be able to travel freely, driving up demand, which could translate to higher prices.