Breckenridge Texan

Gas prices increase slightly as oil prices rebound

Gas prices increase slightly as oil prices rebound
May 15
12:13 2023

Average gasoline prices in Texas have risen 4.7 cents per gallon in the last week, averaging $3.06/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 28.9 cents per gallon lower than a month ago and stand 106.5 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.0 cents in the last week and stands at $3.97 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.69/g yesterday while the most expensive was $4.17/g, a difference of $1.48/g.

The national average price of gasoline has risen 0.4 cents per gallon in the last week, averaging $3.51/g today. The national average is down 14.9 cents per gallon from a month ago and stands 95.6 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.

“With oil prices bouncing back over $70 per barrel after reaching as low as $66 in early May, we’ve seen gasoline prices move higher in some states, while others have continued to decline- the national average has seen little change as a result, but overall, gasoline prices continue to see significant relief from year ago levels,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We’re likely to soon see gasoline prices slip to their largest year on year deficit since COVID hit, when prices fell over $1 per gallon from 2019- so the relief at the pump as been significant, and even though the gas price decline hit pause last week, it’s looking more likely that barring a major hurricane or series of refinery outages, the national average may not end up hitting the $4 per gallon mark- something that will make most motorists very happy. For those in Arizona that have seen gas prices spike during the spring, significant relief is starting and should even accelerate over the weeks ahead.”

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

  • May 15, 2022: $4.13/g (U.S. Average: $4.46/g)
  • May 15, 2021: $2.76/g (U.S. Average: $3.04/g)
  • May 15, 2020: $1.55/g (U.S. Average: $1.86/g)
  • May 15, 2019: $2.56/g (U.S. Average: $2.86/g)
  • May 15, 2018: $2.65/g (U.S. Average: $2.89/g)
  • May 15, 2017: $2.15/g (U.S. Average: $2.33/g)
  • May 15, 2016: $1.98/g (U.S. Average: $2.22/g)
  • May 15, 2015: $2.48/g (U.S. Average: $2.70/g)
  • May 15, 2014: $3.41/g (U.S. Average: $3.64/g)
  • May 15, 2013: $3.40/g (U.S. Average: $3.59/g)

Neighboring areas and their current gas prices:

  • Midland Odessa- $3.08/g, unchanged¬† from last week’s $3.08/g.
  • San Antonio- $3.05/g, up 9.6 cents per gallon from last week’s $2.96/g.
  • Austin- $3.09/g, up 5.7 cents per gallon from last week’s $3.03/g.

 

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