Breckenridge Texan

Petroleum analyst predicts end to falling gas prices

Petroleum analyst predicts end to falling gas prices
December 19
07:28 2022

Average gasoline prices in Texas have fallen 9.6 cents per gallon in the last week, averaging $2.57/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 37.4 cents per gallon lower than a month ago and stand 29.4 cents per gallon lower than a year ago. The national average price of diesel has fallen 14.1 cents in the last week and stands at $4.77 per gallon.

According to GasBuddy price reports, the lowest price in Texas on Sunday was $1.73/g while the highest was $4.17/g, a difference of $2.44/g.

The national average price of gasoline has fallen 11.9 cents per gallon in the last week, averaging $3.09/g today. The national average is down 57.1 cents per gallon from a month ago and stands 20.0 cents per gallon lower 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 for a gallon of gasoline is down nearly $2 compared to six months ago, and heading into Christmas travel week, is at its lowest in a year and a half, saving Americans some $750 million every day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the decline should take the national average under $3 per gallon in the next week or so, it is soon likely to fade as oil prices have held in the $70 per barrel range. But while the declines for gasoline may fade, diesel prices still have considerable ground to cover, and could fall another 50 cents or more in the weeks ahead. Fuel prices across the board have been plunging back into territory more Americans feel is normal, which could certainly boost economic sentiment going forward.”

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

  • December 19, 2021: $2.86/g (U.S. Average: $3.29/g)
  • December 19, 2020: $1.91/g (U.S. Average: $2.22/g)
  • December 19, 2019: $2.20/g (U.S. Average: $2.56/g)
  • December 19, 2018: $2.02/g (U.S. Average: $2.37/g)
  • December 19, 2017: $2.18/g (U.S. Average: $2.42/g)
  • December 19, 2016: $2.04/g (U.S. Average: $2.25/g)
  • December 19, 2015: $1.80/g (U.S. Average: $2.00/g)
  • December 19, 2014: $2.21/g (U.S. Average: $2.44/g)
  • December 19, 2013: $3.01/g (U.S. Average: $3.20/g)
  • December 19, 2012: $3.02/g (U.S. Average: $3.22/g)

Current gas prices across Texas:

  • Midland Odessa- $2.75/g, down 10.7 cents per gallon from last week’s $2.86/g.
  • San Antonio- $2.48/g, down 4.1 cents per gallon from last week’s $2.52/g.
  • Austin- $2.53/g, down 4.4 cents per gallon from last week’s $2.58/g.

Information provided by GasBuddy.

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