Breckenridge Texan

U.S. breaks record for largest single day decline in national average gas prices

U.S. breaks record for largest single day decline in national average gas prices
November 28
08:05 2022

Average gasoline prices in Texas have fallen 10.2 cents per gallon in the last week, averaging $2.83/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 31.9 cents per gallon lower than a month ago and stand 11.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 7.9 cents in the last week and stands at $5.20 per gallon.

“As millions of Americans hit the road for Thanksgiving, we saw gasoline prices continue dropping coast to coast last week, and a new record was set for the largest single day decline in the national average. In addition, 47 of the nation’s 50 states have seen diesel prices falling as well, providing well-needed relief ahead of the holidays and helping to stem the rise in inflation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “All the metrics look very positive for motorists as this week is likely to continue seeing falling gasoline prices, with many areas falling to the lowest level since Russia’s invasion of Ukraine in February. It’s entirely possible the national average price of gasoline could fall under $3 per gallon by Christmas, which would be a huge gift to unwrap for motorists after a dizzying year at the pump.”

According to GasBuddy price reports, the lowest price in Texas on Sunday was $2.00/g while the highest was $4.49/g, a difference of $2.49/g.

The national average price of gasoline has fallen 12.4 cents per gallon in the last week, averaging $3.52/g today. The national average is down 22.7 cents per gallon from a month ago and stands 14.1 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.

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

  • November 28, 2021: $2.94/g (U.S. Average: $3.37/g)
  • November 28, 2020: $1.80/g (U.S. Average: $2.11/g)
  • November 28, 2019: $2.24/g (U.S. Average: $2.60/g)
  • November 28, 2018: $2.20/g (U.S. Average: $2.50/g)
  • November 28, 2017: $2.26/g (U.S. Average: $2.49/g)
  • November 28, 2016: $1.89/g (U.S. Average: $2.13/g)
  • November 28, 2015: $1.82/g (U.S. Average: $2.04/g)
  • November 28, 2014: $2.55/g (U.S. Average: $2.78/g)
  • November 28, 2013: $3.13/g (U.S. Average: $3.27/g)
  • November 28, 2012: $3.15/g (U.S. Average: $3.41/g)

Gas prices around the state:

  • Midland Odessa- $3.06/g, down 7.7 cents per gallon from last week’s $3.13/g.
  • San Antonio- $2.75/g, down 13.5 cents per gallon from last week’s $2.88/g.
  • Austin- $2.82/g, down 12.1 cents per gallon from last week’s $2.94/g.

 

 


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