Gas demand continues its slow drop
Published 10:07 am Monday, October 26, 2020
Gas price trends continue to be typical for this time of year, easing slightly in most places as demand continues its slow seasonal drop.
Patrick De Haan, head of petroleum analysis for GasBuddy, said there is potential enhancement from the recent surge in new coronavirus cases.
Texas gas prices are unchanged in the past week, averaging $1.85/g today, according to GasBuddy’s daily survey of 13,114 stations.
Gas prices in Texas are 1.3 cents per gallon lower than a month ago and stand 42.1 cents per gallon lower than a year ago.
“More stations are falling back under $2 per gallon, in fact the highest amount of stations since May are now under that level, and I do believe that trend will continue at least for now as improvement in the coronavirus situation remains elusive,” De Haan said.
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.47/g today while the most expensive is $2.69/g, a difference of $1.22/g.
The lowest price in the state today is $1.47/g while the highest is $2.69/g, a difference of $1.22/g.
“There may be minor disruption in price and localized supply challenges as Tropical Storm Zeta again takes aim for the Gulf Coast, but like we’ve seen with Laura, Sally and Delta, these issues have been very minor compared to a normal year due to the reduction in our gasoline appetite,” De Haan said.
The national average price of gasoline is unchanged in the last week, averaging $2.14/g today.
The national average is down 4.2 cents per gallon from a month ago and stands 45.5 cents per gallon lower than a year ago.
Historical gasoline prices in Texas and the national average going back ten years:
October 26, 2019: $2.27/g (U.S. Average: $2.60/g)
October 26, 2018: $2.57/g (U.S. Average: $2.82/g)
October 26, 2017: $2.24/g (U.S. Average: $2.45/g)
October 26, 2016: $2.05/g (U.S. Average: $2.22/g)
October 26, 2015: $1.94/g (U.S. Average: $2.19/g)
October 26, 2014: $2.82/g (U.S. Average: $3.04/g)
October 26, 2013: $3.04/g (U.S. Average: $3.29/g)
October 26, 2012: $3.36/g (U.S. Average: $3.57/g)
October 26, 2011: $3.29/g (U.S. Average: $3.43/g)
October 26, 2010: $2.64/g (U.S. Average: $2.79/g)
Neighboring areas and their current gas prices:
- Midland Odessa – $1.98/g, up 1.7 cents per gallon from last week’s $1.96/g.
• San Antonio – $1.77/g, down 3.0 cents per gallon from last week’s $1.80/g.
• Austin – $1.80/g, down 3.0 cents per gallon from last week’s $1.83/g.