Texas gas prices lower than a month and year ago

Published 10:26 am Monday, November 9, 2020

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Previous weakness in oil continues to translate into falling gasoline prices nearly nationwide as motorists cast their ballots last week.

However, the six-week trend could reverse on optimism that President-elect Joe Biden may move quickly to get organized and Sen. Majority Leader McConnell has said stimulus is high on his agenda, aiding the economy and oil demand, said Patrick De Haan, head of petroleum analysis for GasBuddy.

Texas gas prices have fallen 2.4 cents per gallon in the past week, averaging $1.77/g today, according to GasBuddy’s daily survey of 13,114 stations.

Gas prices in Texas are 10.2 cents per gallon lower than a month ago and stand 49.9 cents per gallon lower than a year ago.

“As of late Sunday, a barrel of West Texas Intermediate crude oil was up over 8 percent compared to just last Monday, a solid rally that may eventually halt the decline in gasoline prices, should the optimism continue even against a backdrop of a continued global rise in coronavirus cases,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.46/g today while the most expensive is $2.49/g, a difference of $1.03/g.

The lowest price in the state today is $1.46/g while the highest is $2.49/g, a difference of $1.03/g.

“It remains challenging to predict how the Presidential transition may occur, and if it drags the economy down, I could see pessimism and lower prices return, but for now, it appears that a solid dose of optimism may soon drive prices up,” De Haan said.

The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $2.09/g today.

The national average is down 8.8 cents per gallon from a month ago and stands 53.7 cents per gallon lower than a year ago.

Historical gasoline prices in Texas and the national average going back ten years:

November 9, 2019: $2.27/g (U.S. Average: $2.63/g)
November 9, 2018: $2.44/g (U.S. Average: $2.70/g)
November 9, 2017: $2.29/g (U.S. Average: $2.56/g)
November 9, 2016: $1.99/g (U.S. Average: $2.19/g)
November 9, 2015: $1.97/g (U.S. Average: $2.21/g)
November 9, 2014: $2.71/g (U.S. Average: $2.92/g)
November 9, 2013: $2.94/g (U.S. Average: $3.18/g)
November 9, 2012: $3.21/g (U.S. Average: $3.45/g)
November 9, 2011: $3.24/g (U.S. Average: $3.43/g)
November 9, 2010: $2.67/g (U.S. Average: $2.85/g)

Neighboring areas and their current gas prices:

  • Midland Odessa – $1.91/g, down 2.9 cents per gallon from last week’s $1.94/g.
    • San Antonio – $1.68/g, down 3.8 cents per gallon from last week’s $1.72/g.
    • Austin – $1.70/g, down 4.1 cents per gallon from last week’s $1.74/g.