Oil, Gasoline Prices Down for Christmas Travelers

Christmas 2020 was different for many Texans as they altered their plans for gathering with family and friends because of the Covid-19 pandemic.

AAA said travel was off 35 percent even though gasoline and diesel prices were about 30 cents per gallon lower than last year.

Regular gasoline in Texas averaged $1.948 on Dec.23 compared to $2.224 in 2019. Prices in North Texas averaged $1.896, East Texas $1.949, and West Central Texas $1.996.

Gasoline prices follow crude oil prices closely. Crude oil prices averaged $49.10 per barrel, which is down $11.34 from the same time in 2019, according to the Energy Information Administration.

Oil prices were being pushed up and down just before Christmas. A vaccine was being distributed to the U.S. and U.K. to counter Covid-19 with hopes that things would return to a somewhat semblance of normal soon.

However, it was learned this week that a mutation of Covid-19 was discovered in the U.K. and more lockdowns were expected across Europe.

Government officials issued a stay-at-home order for residents in southeast England, and travel between France and England was halted for 48 hours. If travel is restricted further, demand for petroleum products will decline weakening crude oil and gasoline prices, too.

Alex Mills is the former President of the Texas Alliance of Energy Producers.