Gas prices stabilize as the new year gets underway, according to GasBuddy
Texas gas prices have risen 5.7 cents per gallon in the past week, averaging $2.88/g today, Monday, Jan. 3, according to GasBuddy’s daily survey of 13,114 stations in Texas. Gas prices in Texas are 4.4 cents per gallon lower than a month ago and stand 95.3 cents per gallon higher than a year ago.
“After a pretty long run of falling gas prices, we’ve seen things stabilize. Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, Great Lakes states were expected to see a price hike last week, but the hike hasn’t happened just yet, leading me to believe it will occur in short order this week and send the national average higher. For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases.”
According to GasBuddy price reports, the lowest price in the state today is $2.43/g while the highest is $3.69/g, a difference of $1.26/g.
The national average price of gasoline has fallen 1 cent per gallon in the last week, averaging $3.27/g today. The national average is down 9.1 cents per gallon from a month ago and stands $1.02/g higher than a year ago.
Historical gasoline prices in Texas and the national average going back 10 years:
- January 3, 2021: $1.93/g (U.S. Average: $2.24/g)
- January 3, 2020: $2.27/g (U.S. Average: $2.59/g)
- January 3, 2019: $1.92/g (U.S. Average: $2.26/g)
- January 3, 2018: $2.25/g (U.S. Average: $2.49/g)
- January 3, 2017: $2.14/g (U.S. Average: $2.35/g)
- January 3, 2016: $1.74/g (U.S. Average: $1.99/g)
- January 3, 2015: $1.98/g (U.S. Average: $2.20/g)
- January 3, 2014: $3.14/g (U.S. Average: $3.32/g)
- January 3, 2013: $3.12/g (U.S. Average: $3.29/g)
- January 3, 2012: $3.09/g (U.S. Average: $3.27/g)
Some current gas prices around the state:
- Midland Odessa- $3.03/g, up 2.4 cents per gallon from last week’s $3.00/g.
- San Antonio- $2.77/g, up 15.6 cents per gallon from last week’s $2.62/g.
- Austin- $2.83/g, up 6.9 cents per gallon from last week’s $2.76/g.
