Gas price rise slowing down nationally
After several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil’s increases as of late.
Patrick DeHaan, head of petroleum analysis for GasBuddy, said while the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum.
Texas gas prices are unchanged in the past week, averaging $2.09/g today, according to GasBuddy’s daily survey of 13,114 stations.
Gas prices in Texas are 16.5 cents per gallon higher than a month ago and stand 10.6 cents per gallon lower than a year ago.
“When it comes to demand, Pay with GasBuddy data showed last week’s gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic,” DeHaan said.
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.74/g today while the most expensive is $2.81/g, a difference of $1.07/g.
The lowest price in the state today is $1.74/g while the highest is $2.81/g, a difference of $1.07/g.
The national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $2.40/g today.
The national average is up 14.4 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago.
Historical gasoline prices in Texas and the national average going back ten years:
January 25, 2020: $2.20/g (U.S. Average: $2.52/g)
January 25, 2019: $1.98/g (U.S. Average: $2.28/g)
January 25, 2018: $2.32/g (U.S. Average: $2.57/g)
January 25, 2017: $2.10/g (U.S. Average: $2.29/g)
January 25, 2016: $1.61/g (U.S. Average: $1.82/g)
January 25, 2015: $1.83/g (U.S. Average: $2.02/g)
January 25, 2014: $3.08/g (U.S. Average: $3.28/g)
January 25, 2013: $3.16/g (U.S. Average: $3.33/g)
January 25, 2012: $3.25/g (U.S. Average: $3.38/g)
January 25, 2011: $2.95/g (U.S. Average: $3.09/g)
Neighboring areas and their current gas prices:
- Midland Odessa – $2.25/g, down 1.9 cents per gallon from last week’s $2.26/g.
• San Antonio – $1.95/g, down 3.5 cents per gallon from last week’s $1.99/g.
• Austin – $2.02/g, down 1.5 cents per gallon from last week’s $2.04/g.