Breckenridge Texan

Declining gas price trend likely to continue in June, according to petroleum analyst

Declining gas price trend likely to continue in June, according to petroleum analyst
May 28
07:29 2024

Average gasoline prices in Texas have fallen 2.7 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 13.1 cents per gallon lower than a month ago and stand 3.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 2.9 cents in the last week and stands at $3.82 per gallon.

“With the summer driving season now underway, average gas prices have seen ups in some areas and downs in others. Most states are seeing prices slightly below their 2024 peak thus far, with some refinery issues in the Great Lakes weighing on prices there, while other areas, like the West Coast, have seen notable relief with more coming,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “June tends to be a month of smooth sailing, where we see gas prices decline in most areas, and that’s a trend that looks the most likely for drivers, barring unexpected refinery snags or a tropical storm developing. The national average over Memorial Day was down ever so slightly compared to last year—after adjusting for inflation, prices were down about 10 cents per gallon. Not a terrible way to kick off summer!”

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.49/g yesterday while the most expensive was $4.09/g, a difference of $1.60/g.

The national average price of gasoline has risen 1.2 cents per gallon in the last week, averaging $3.56/g today. The national average is down 6.5 cents per gallon from a month ago and stands 1.2 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:

  • May 28, 2023: $3.09/g (U.S. Average: $3.55/g)
  • May 28, 2022: $4.22/g (U.S. Average: $4.60/g)
  • May 28, 2021: $2.73/g (U.S. Average: $3.04/g)
  • May 28, 2020: $1.64/g (U.S. Average: $1.97/g)
  • May 28, 2019: $2.52/g (U.S. Average: $2.81/g)
  • May 28, 2018: $2.75/g (U.S. Average: $2.96/g)
  • May 28, 2017: $2.18/g (U.S. Average: $2.36/g)
  • May 28, 2016: $2.08/g (U.S. Average: $2.32/g)
  • May 28, 2015: $2.50/g (U.S. Average: $2.74/g)
  • May 28, 2014: $3.44/g (U.S. Average: $3.65/g)

Current gas prices around the state:

  • Midland Odessa- $2.91/g, down 11.7 cents per gallon from last week’s $3.03/g.
  • San Antonio- $2.95/g, down 21.9 cents per gallon from last week’s $3.17/g.
  • Austin- $3.02/g, down 16.4 cents per gallon from last week’s $3.18/g.

 

 

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