Breckenridge Texan

GasBuddy analyst predicts continued drops in gas prices but says trend could change in upcoming weeks

GasBuddy analyst predicts continued drops in gas prices but says trend could change in upcoming weeks
September 12
06:51 2022

Average gasoline prices in Texas have fallen 13.6 cents per gallon in the last week, averaging $3.10/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 34.4 cents per gallon lower than a month ago and stand 28.7 cents per gallon higher than a year ago. The national average price of diesel has declined 5.5 cents in the last week and stands at $5.01 per gallon.

According to GasBuddy price reports, the lowest price in Texas on Sunday was $2.75/g while the highest was $4.73/g, a difference of $1.98/g.

“We continue to see the national average price of gasoline decline, now for the thirteenth straight week. But, we’re seeing drastically different price behaviors from coast to coast, with some areas seeing noticeable increases while others are seeing decreases,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Refinery issues in California are leading to increases in areas supplied by the state’s refineries, including areas of Arizona, Nevada, Oregon, Washington and of course, California. Gasoline supply remains tight for the East Coast with some modest moves up, while prices continue to edge lower in the Plains, South and areas of the Great Lakes. For now, I believe the drop in prices will overpower the increases, leading to potentially another decline this week, but we’re in a very fragile time and certainly could see a broader move higher in the weeks ahead.”

The national average price of gasoline has fallen 7.6 cents per gallon in the last week, averaging $3.67/g today. The national average is down 26.9 cents per gallon from a month ago and stands 52.3 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:

  • September 12, 2021: $2.81/g (U.S. Average: $3.15/g)
  • September 12, 2020: $1.88/g (U.S. Average: $2.18/g)
  • September 12, 2019: $2.26/g (U.S. Average: $2.56/g)
  • September 12, 2018: $2.61/g (U.S. Average: $2.84/g)
  • September 12, 2017: $2.49/g (U.S. Average: $2.65/g)
  • September 12, 2016: $1.97/g (U.S. Average: $2.17/g)
  • September 12, 2015: $2.11/g (U.S. Average: $2.35/g)
  • September 12, 2014: $3.21/g (U.S. Average: $3.41/g)
  • September 12, 2013: $3.33/g (U.S. Average: $3.53/g)
  • September 12, 2012: $3.66/g (U.S. Average: $3.86/g)

Other gas prices around the state:

  • Midland Odessa- $3.25/g, down 9.7 cents per gallon from last week’s $3.35/g.
  • San Antonio- $3.01/g, down 11.4 cents per gallon from last week’s $3.12/g.
  • Austin- $3.11/g, down 13.1 cents per gallon from last week’s $3.24/g.

 


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