Nine straight weeks of rising gas prices in jeopardy, where does Texas stand?
Published 3:40 pm Monday, July 6, 2020
We’re halfway through the summer driving season, and the pace of gas price increases has finally hit a wall.
As of Sunday evening, according to Patrick De Haan, it appears possible the U.S. may break the nine straight weeks of rising prices thanks to a drop in demand fueled by COVID-19 cases surging in some states.
The head of petroleum analysis for GasBuddy said so far this summer both holidays have seen the lowest prices since 2004, and it’s possible if things don’t improve much by Labor Day “we could see the rare trifecta of every summer holiday setting multi-year lows.”
Texas gas prices have fallen 1.6 cents per gallon in the past week, averaging $1.87/g today, according to GasBuddy’s daily survey of 13,114 stations.
Gas prices in Texas are 18.3 cents per gallon higher than a month ago and stand 57.9 cents per gallon lower than a year ago.
“For now, I believe we may see increases stall and some minor increases or decreases until we see a solid change in the coronavirus situation,” De Haan said. “For now, some states will see slight increases, some may see slight decreases, but gas prices are essentially stuck in limbo.”
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.19/g today while the most expensive is $2.79/g, a difference of $1.60/g.
The lowest price in the state today is $1.19/g while the highest is $2.79/g, a difference of $1.60/g.
The national average price of gasoline has fallen 1.2 cents per gallon in the last week, averaging $2.17/g today.
The national average is up 14.9 cents per gallon from a month ago and stands 58.1 cents per gallon lower than a year ago.