Gas prices show slight drop after oil prices fall below $64/barrel

Average gasoline prices in Texas have fallen 5.7 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 11.3 cents per gallon lower than a month ago and stand 32.8 cents per gallon lower than a year ago. The national average price of diesel has decreased 1.8 cents compared to a week ago and stands at $3.690 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.29/g yesterday while the most expensive was $3.69/g, a difference of $1.40/g.
The national average price of gasoline has fallen 2.7 cents per gallon in the last week, averaging $3.08/g today. The national average is down 7.0 cents per gallon from a month ago and stands 32.3 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.
“After rising for two straight weeks, the national average price of gasoline saw a slight decline in the last week as oil prices fell below $64 per barrel, paving the way for prices to ease in most states,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Price-cycling markets again saw the largest weekly swings, with Florida and Michigan cycling upward, while Indiana and Ohio experienced sharp declines but may be due for jumps this week. As we approach the peak of hurricane season, forecasts are showing favorable conditions for tropical development, so we’ll be watching closely for any potential impact on supply and prices as Labor Day nears.”
Historical gasoline prices in Texas and the national average going back 10 years:
- August 11, 2024: $2.99/g (U.S. Average: $3.41/g)
- August 11, 2023: $3.41/g (U.S. Average: $3.82/g)
- August 11, 2022: $3.44/g (U.S. Average: $3.95/g)
- August 11, 2021: $2.85/g (U.S. Average: $3.18/g)
- August 11, 2020: $1.85/g (U.S. Average: $2.17/g)
- August 11, 2019: $2.38/g (U.S. Average: $2.63/g)
- August 11, 2018: $2.62/g (U.S. Average: $2.85/g)
- August 11, 2017: $2.16/g (U.S. Average: $2.35/g)
- August 11, 2016: $1.96/g (U.S. Average: $2.13/g)
- August 11, 2015: $2.38/g (U.S. Average: $2.58/g)
Current gas prices around the state:
- Midland Odessa- $2.78/g, up 12.5 cents per gallon from last week’s $2.66/g.
- San Antonio- $2.61/g, down 13.4 cents per gallon from last week’s $2.74/g.
- Austin- $2.62/g, down 14.0 cents per gallon from last week’s $2.76/g.
