See how far Texas gas prices have jumped
Many factors continue to push oil prices higher.
At the foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices, which for the first time in some time stand at their highest in over a year, adding misery to the dire economic situation as millions remain jobless,” DeHaan said.
Texas gas prices have risen 2.7 cents per gallon in the past week, averaging $2.15/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.
Gas prices in Texas are 16.1 cents per gallon higher than a month ago and stand 5.4 cents per gallon higher than a year ago.
“The news won’t likely improve in the months ahead, with continued increases in gas prices as OPEC maintains a tight balance between reduced demand and supply, keeping prices on the higher side,” DeHaan said.
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.88/g today while the most expensive is $2.79/g, a difference of 91.0 cents per gallon.
The lowest price in the state today is $1.88/g while the highest is $2.79/g, a difference of 91.0 cents per gallon.
The national average price of gasoline has risen 3.7 cents per gallon in the last week, averaging $2.45/g today.
The national average is up 13.2 cents per gallon from a month ago and stands 1.6 cents per gallon higher than a year ago.
Historical gasoline prices in Texas and the national average going back ten years:
February 8, 2020: $2.10/g (U.S. Average: $2.43/g)
February 8, 2019: $1.97/g (U.S. Average: $2.29/g)
February 8, 2018: $2.36/g (U.S. Average: $2.59/g)
February 8, 2017: $2.08/g (U.S. Average: $2.26/g)
February 8, 2016: $1.54/g (U.S. Average: $1.73/g)
February 8, 2015: $1.99/g (U.S. Average: $2.17/g)
February 8, 2014: $3.05/g (U.S. Average: $3.26/g)
February 8, 2013: $3.38/g (U.S. Average: $3.57/g)
February 8, 2012: $3.39/g (U.S. Average: $3.48/g)
February 8, 2011: $2.96/g (U.S. Average: $3.11/g)
Neighboring areas and their current gas prices:
- Midland Odessa – $2.29/g, up 4.9 cents per gallon from last week’s $2.24/g.
• San Antonio – $2.07/g, up 1.8 cents per gallon from last week’s $2.05/g.
• Austin – $2.11/g, up 2.4 cents per gallon from last week’s $2.09/g.