Texas gas prices drop slightly, but higher prices could be on horizon, according to analyst
Average gasoline prices in Texas have fallen 0.4 cents per gallon in the last week, averaging $2.70/g today, according to GasBuddy’s survey of 13,114 stations in Texas. Prices in Texas are 10.0 cents per gallon lower than a month ago and stand 25.6 cents per gallon lower than a year ago. The national average price of diesel has increased 4.0 cents in the last week and stands at $3.488 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.09/g yesterday while the most expensive was $3.49/g, a difference of $1.40/g.
The national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $3.08/g today. The national average is down 9.5 cents per gallon from a month ago and stands 32.7 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.
“With Israel and Iran trading attacks, oil prices have surged to multi-month highs — setting the stage for additional price hikes at gas pumps across the country,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “As long as tensions in the Middle East continue to escalate, the risk of further impacts on oil prices remains high. For now, I expect gas prices could rise by 10 to 20 cents, while diesel could climb 15 to 25 cents in the coming days. Motorists should prepare for what will likely be modest price increases—for now—but the situation has the potential to worsen at any moment.”
Historical gasoline prices in Texas and the national average going back 10 years:
- June 16, 2024: $2.95/g (U.S. Average: $3.41/g)
- June 16, 2023: $3.09/g (U.S. Average: $3.55/g)
- June 16, 2022: $4.68/g (U.S. Average: $5.01/g)
- June 16, 2021: $2.76/g (U.S. Average: $3.08/g)
- June 16, 2020: $1.81/g (U.S. Average: $2.10/g)
- June 16, 2019: $2.40/g (U.S. Average: $2.67/g)
- June 16, 2018: $2.69/g (U.S. Average: $2.89/g)
- June 16, 2017: $2.11/g (U.S. Average: $2.29/g)
- June 16, 2016: $2.13/g (U.S. Average: $2.36/g)
- June 16, 2015: $2.61/g (U.S. Average: $2.81/g)
Current gas prices around the state:
- Midland Odessa- $2.66/g, down 10.5 cents per gallon from last week’s $2.76/g.
- San Antonio- $2.78/g, up 20.2 cents per gallon from last week’s $2.58/g.
- Austin- $2.79/g, up 17.2 cents per gallon from last week’s $2.62/g.
