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Texas pump prices changing following high demand over the weekend

Gas price increases continue to slow down as oil prices fail to continue moving upward, even as gasoline demand continues to show new signs of improving recovery.

According to Patrick DeHaan, head of petroleum analysis for GasBuddy, Friday gasoline demand was the highest since November, while Saturday gasoline demand was the strongest of any Saturday since the pandemic began.

Texas gas prices have risen 2.2 cents per gallon in the past week, averaging $2.11/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 18.6 cents per gallon higher than a month ago and stand 2.8 cents per gallon lower than a year ago.

“The rise in gasoline demand has certainly been behind oil’s rally in the last few months, as COVID restrictions continue to ease and the economy slowly continues recovery,” DeHaan said.

“While the next few weeks may see gas prices rising slightly, the real pinch could come in March and lasting through summer, should demand continue on this path.”

According to GasBuddy price reports, the cheapest station in Texas is priced at $0.99/g today while the most expensive is $2.83/g, a difference of $1.84/g.

The lowest price in the state today is $0.99/g while the highest is $2.83/g, a difference of $1.84/g.

The national average price of gasoline has risen 1.9 cents per gallon in the last week, averaging $2.42/g today.

The national average is up 17.4 cents per gallon from a month ago and stands 5.5 cents per gallon lower than a year ago.

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

February 1, 2020: $2.14/g (U.S. Average: $2.47/g)
February 1, 2019: $1.96/g (U.S. Average: $2.27/g)
February 1, 2018: $2.37/g (U.S. Average: $2.60/g)
February 1, 2017: $2.07/g (U.S. Average: $2.27/g)
February 1, 2016: $1.58/g (U.S. Average: $1.79/g)
February 1, 2015: $1.85/g (U.S. Average: $2.05/g)
February 1, 2014: $3.07/g (U.S. Average: $3.27/g)
February 1, 2013: $3.28/g (U.S. Average: $3.47/g)
February 1, 2012: $3.38/g (U.S. Average: $3.45/g)
February 1, 2011: $2.92/g (U.S. Average: $3.09/g)

Neighboring areas and their current gas prices:

  • Midland Odessa – $2.26/g, up 1.8 cents per gallon from last week’s $2.24/g.
    • San Antonio – $2.06/g, up 10.3 cents per gallon from last week’s $1.96/g.
    • Austin – $2.10/g, up 7.0 cents per gallon from last week’s $2.03/g.