Hurricanes, situation in Middle East could affect U.S. gas prices, according to petroleum analyst
Average gasoline prices in Texas have risen 4.7 cents per gallon in the last week, averaging $2.73/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 8.9 cents per gallon lower than a month ago and stand 46.3 cents per gallon lower than a year ago. The national average price of diesel is unchanged from a week ago and stands at $3.54 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $1.89/g yesterday while the most expensive was $3.70/g, a difference of $1.81/g.
The national average price of gasoline has fallen 4.6 cents per gallon in the last week, averaging $3.13/g today. The national average is down 11.6 cents per gallon from a month ago and stands 56.2 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.
“While the national average dipped slightly in the last week, Iran’s attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida. As a result of potential evacuations, GasBuddy’s Fuel Availability tracker will remain online for areas likely to be affected by Milton. For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a $2.99 national average remains possible this fall.”
Historical gasoline prices in Texas and the national average going back 10 years:
- October 7, 2023: $3.19/g (U.S. Average: $3.69/g)
- October 7, 2022: $3.22/g (U.S. Average: $3.90/g)
- October 7, 2021: $2.88/g (U.S. Average: $3.24/g)
- October 7, 2020: $1.86/g (U.S. Average: $2.18/g)
- October 7, 2019: $2.31/g (U.S. Average: $2.65/g)
- October 7, 2018: $2.66/g (U.S. Average: $2.91/g)
- October 7, 2017: $2.35/g (U.S. Average: $2.48/g)
- October 7, 2016: $2.00/g (U.S. Average: $2.26/g)
- October 7, 2015: $2.05/g (U.S. Average: $2.29/g)
- October 7, 2014: $3.11/g (U.S. Average: $3.27/g)
Current gas prices around the state:
- Midland Odessa- $2.57/g, down 6.3 cents per gallon from last week’s $2.64/g.
- San Antonio- $2.63/g, down 21.2 cents per gallon from last week’s $2.85/g.
- Austin- $2.65/g, down 18.8 cents per gallon from last week’s $2.84/g.
