Uncertainty over tariffs keeping national gas prices low, according to petroleum analyst

Average gasoline prices in Texas have risen 8.1 cents per gallon in the last week, averaging $2.66/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 0.8 cents per gallon lower than a month ago and stand 22.9 cents per gallon lower than a year ago. The national average price of diesel has decreased 2.1 cents in the last week and stands at $3.608 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.11/g yesterday while the most expensive was $3.96/g, a difference of $1.85/g.
The national average price of gasoline has fallen 0.6 cents per gallon in the last week, averaging $3.03/g today. The national average is down 8.9 cents per gallon from a month ago and stands 36.7 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 average price of gasoline in the U.S. hasn’t been this low in March since 2021, when the pandemic significantly reduced demand and kept prices suppressed. This time around, caution is also playing a role in keeping prices lower — particularly uncertainty over tariffs, which is likely having a moderate impact,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Concerns about the direction of the economy could have a major influence on fuel prices in the months ahead, especially with the high level of uncertainty surrounding tariffs. Additionally, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices. As a result, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected.”
Historical gasoline prices in Texas and the national average going back 10 years:
- March 10, 2024: $2.89/g (U.S. Average: $3.40/g)
- March 10, 2023: $3.06/g (U.S. Average: $3.44/g)
- March 10, 2022: $4.01/g (U.S. Average: $4.34/g)
- March 10, 2021: $2.55/g (U.S. Average: $2.82/g)
- March 10, 2020: $2.05/g (U.S. Average: $2.33/g)
- March 10, 2019: $2.23/g (U.S. Average: $2.48/g)
- March 10, 2018: $2.27/g (U.S. Average: $2.53/g)
- March 10, 2017: $2.09/g (U.S. Average: $2.30/g)
- March 10, 2016: $1.62/g (U.S. Average: $1.84/g)
- March 10, 2015: $2.24/g (U.S. Average: $2.45/g)
Current gas prices around the state:
- Midland Odessa- $2.68/g, up 6.2 cents per gallon from last week’s $2.62/g.
- San Antonio- $2.69/g, up 12.7 cents per gallon from last week’s $2.56/g.
- Austin- $2.70/g, up 11.5 cents per gallon from last week’s $2.59/g.