Breckenridge Texan

Decline in gas prices could be coming to an end as oil prices increase, according to industry expert

Decline in gas prices could be coming to an end as oil prices increase, according to industry expert
August 15
08:47 2022

Average gasoline prices in Texas have fallen 9.1 cents per gallon in the last week, averaging $3.41/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 64.2 cents per gallon lower than a month ago and stand 56.8 cents per gallon higher than a year ago. The national average price of diesel has declined 14.8 cents in the last week and stands at $5.27 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.97/g yesterday while the most expensive was $4.87/g, a difference of $1.90/g.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better than expected jobs report last week likely means less demand destruction than anticipated.”

The national average price of gasoline has fallen 9.9 cents per gallon in the last week, averaging $3.92/g today. The national average is down 63.7 cents per gallon from a month ago and stands 74.8 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in Texas and the national average going back 10 years:

  • August 15, 2021: $2.84/g (U.S. Average: $3.17/g)
  • August 15, 2020: $1.87/g (U.S. Average: $2.17/g)
  • August 15, 2019: $2.36/g (U.S. Average: $2.63/g)
  • August 15, 2018: $2.62/g (U.S. Average: $2.85/g)
  • August 15, 2017: $2.15/g (U.S. Average: $2.34/g)
  • August 15, 2016: $1.96/g (U.S. Average: $2.12/g)
  • August 15, 2015: $2.37/g (U.S. Average: $2.67/g)
  • August 15, 2014: $3.28/g (U.S. Average: $3.46/g)
  • August 15, 2013: $3.39/g (U.S. Average: $3.53/g)
  • August 15, 2012: $3.52/g (U.S. Average: $3.71/g)

Neighboring areas and their current gas prices:

  • Midland Odessa- $3.56/g, down 11.0 cents per gallon from last week’s $3.67/g.
  • San Antonio- $3.36/g, down 8.1 cents per gallon from last week’s $3.44/g.
  • Austin- $3.46/g, down 8.6 cents per gallon from last week’s $3.55/g.

 

Print Friendly, PDF & Email

Support The Breckenridge Texan

Archives

Title of the document Sign up for our
e-newsletter
Click Here
Verified by MonsterInsights