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Texas gas prices down a nickel to average $1.53 per gallon

COPPELL, Texas (AP) — Texas retail gasoline prices continue to slide by dropping a nickel this week.

AAA Texas on Thursday reported the average price at the pump statewide was $1.53 per gallon. Nationwide gasoline prices fell 7 cents this week to reach $1.70 per gallon.

Amarillo has the cheapest gasoline this week across Texas at an average $1.34 per gallon. Drivers in El Paso have the most expensive gasoline statewide at an average $1.56 per gallon.

Domestic crude oil inventories remain at high levels. Association experts say gasoline demand typically begins to increase starting in February, reaching its peak in August.

February also marks the beginning of the spring refinery maintenance season. The combination of increased demand and reduced supply often leads to upward swings in retail prices.

In related news, $30 oil? Texas says bring it on.

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