Gas prices stabilize, but proposed tariffs on Canada, Mexico could soon impact rates

Average gasoline prices in Texas have risen 1.1 cents per gallon in the last week, averaging $2.67/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 7.7 cents per gallon higher than a month ago and stand 7.7 cents per gallon lower than a year ago. The national average price of diesel has increased 4.4 cents in the last week and stands at $3.650 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.04/g yesterday while the most expensive was $3.49/g, a difference of $1.45/g.
The national average price of gasoline has fallen 0.9 cents per gallon in the last week, averaging $3.08/g today. The national average is up 6.5 cents per gallon from a month ago and stands 1.8 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.
“Oil prices have declined over the last week following President Trump’s speech at the World Economic Forum, where he urged Saudi Arabia to lower oil prices by restoring production. The downturn in oil has caused gas prices to stabilize for the time being, with crude now more than $5 per barrel below where it was a couple of weeks ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “As we approach the February 1 deadline for potential U.S. tariffs on Canada and Mexico — key sources of crude oil imports — we’ll be monitoring for any potential impact, including the possibility of retaliatory tariffs. For now, I remain hopeful that tariffs won’t materialize, and gas prices could stay relatively stable over the next few weeks, at least until the seasonal rise in prices begins in mid-to-late February.”
Historical gasoline prices in Texas and the national average going back 10 years:
- January 27, 2024: $2.75/g (U.S. Average: $3.10/g)
- January 27, 2023: $3.10/g (U.S. Average: $3.50/g)
- January 27, 2022: $2.99/g (U.S. Average: $3.36/g)
- January 27, 2021: $2.10/g (U.S. Average: $2.41/g)
- January 27, 2020: $2.18/g (U.S. Average: $2.50/g)
- January 27, 2019: $1.98/g (U.S. Average: $2.25/g)
- January 27, 2018: $2.33/g (U.S. Average: $2.58/g)
- January 27, 2017: $2.09/g (U.S. Average: $2.27/g)
- January 27, 2016: $1.60/g (U.S. Average: $1.83/g)
- January 27, 2015: $1.83/g (U.S. Average: $2.03/g)
Current gas prices around the state:
- Midland Odessa- $2.88/g, up 18.8 cents per gallon from last week’s $2.69/g.
- San Antonio- $2.69/g, up 11.5 cents per gallon from last week’s $2.58/g.
- Austin- $2.70/g, up 12.0 cents per gallon from last week’s $2.58/g.