Breckenridge Texan

Fuel analyst: Hurricane season, refinery problems could impact gas prices

Fuel analyst: Hurricane season, refinery problems could impact gas prices
August 29
08:15 2022

Average gasoline prices in Texas have fallen 6.2 cents per gallon in the last week, averaging $3.34/g today, Monday, Aug. 29, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 36.8 cents per gallon lower than a month ago and stand 55.0 cents per gallon higher than a year ago. The national average price of diesel has risen 7.3 cents in the last week and stands at $5.04 per gallon.

According to GasBuddy price reports, the lowest price in the Texas yesterday was $2.93/g while the highest was $4.73/g, a difference of $1.80/g.

The national average price of gasoline has fallen 5.0 cents per gallon in the last week, averaging $3.81/g today. The national average is down 39.8 cents per gallon from a month ago and stands 69.1 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.

“The national average has declined for another week, extending the slide for the eleventh straight week. Gas prices are now $1.20 per gallon lower than mid-June with Americans spending $450 million less on gasoline every day as a result,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some issues have developed that we’re keeping a close eye on, including the shut down of the largest refinery in the Midwest. While that refinery may get back online sooner rather than later, it’s not impossible that down the road the situation could impact prices in the region. For the rest of the country, however, we’ll continue to see prices moderate. This is, of course, subject to hurricane season, and it does appear that the tropics are starting to see some activity, so there’s no guarantee the decline will continue.”

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

  • August 29, 2021: $2.79/g (U.S. Average: $3.12/g)
  • August 29, 2020: $1.92/g (U.S. Average: $2.23/g)
  • August 29, 2019: $2.30/g (U.S. Average: $2.57/g)
  • August 29, 2018: $2.60/g (U.S. Average: $2.83/g)
  • August 29, 2017: $2.20/g (U.S. Average: $2.40/g)
  • August 29, 2016: $2.02/g (U.S. Average: $2.22/g)
  • August 29, 2015: $2.25/g (U.S. Average: $2.49/g)
  • August 29, 2014: $3.24/g (U.S. Average: $3.43/g)
  • August 29, 2013: $3.40/g (U.S. Average: $3.56/g)
  • August 29, 2012: $3.65/g (U.S. Average: $3.81/g)

Gas prices around the state:

  • Midland Odessa- $3.43/g, down 3.8 cents per gallon from last week’s $3.47/g.
  • San Antonio- $3.23/g, down 5.4 cents per gallon from last week’s $3.29/g.
  • Austin- $3.36/g, down 2.8 cents per gallon from last week’s $3.39/g.

 


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