Why Oil-Rich Texas Still Pays High Gas Prices

What Happened A Reddit user posed a straightforward question that many Americans have wondered about: if Texas produces massive amounts of oil, why isn’t gasoline incredibly cheap there? The user compared Texas to Venezuela, where government subsidies have historically made gasoline cost less than bottled water. The question touches on a fundamental misunderstanding about how oil markets operate. Texas produces about 5.5 million barrels of oil per day, making it responsible for roughly 43% of all U.