Expert: National average could rise 50 cents per gallon
Gasoline prices continue to follow as oil prices climb higher.
The national average now stands at its highest level since January 2020 as Pay with GasBuddy data shows U.S. gasoline demand rose over two percent last week, said Patrick DeHaan, head of petroleum analysis for GasBuddy.
“The rise in gas prices continues to be driven by improving demand in the United States and has nothing to do with who sits in the White House but rather how many motorists are filing their tanks on a daily basis,” DeHaan said. “And from that data, it’s no guess, but prices will continue to trend higher.”
Texas gas prices have risen 3.5 cents per gallon in the past week, averaging $2.19/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.
Gas prices in Texas are 10.1 cents per gallon higher than a month ago and stand 9.7 cents per gallon higher than a year ago.
“This situation will last as long as OPEC continues to restrain their oil production, creating the situation we’re in where demand is recovering faster than supply,” DeHaan said.
“The situation won’t get better, just wait until spring, it’s likely the national average will rise another 10 to as much as 50 cents per gallon if oil production doesn’t respond to the continued recovery in demand.”
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.69/g today while the most expensive is $2.59/g, a difference of 90.0 cents per gallon.
The lowest price in the state today is $1.69/g while the highest is $2.59/g, a difference of 90.0 cents per gallon.
The national average price of gasoline has risen 2.6 cents per gallon in the last week, averaging $2.50/g today.
The national average is up 11.0 cents per gallon from a month ago and stands 5.3 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices:
- Midland Odessa – $2.34/g, up 5.2 cents per gallon from last week’s $2.29/g.
• San Antonio – $2.09/g, up 3.5 cents per gallon from last week’s $2.06/g.
• Austin – $2.12/g, up 0.6 cents per gallon from last week’s $2.12/g.
Historical gasoline prices in Texas and the national average going back ten years:
February 15, 2020: $2.09/g (U.S. Average: $2.45/g)
February 15, 2019: $2.00/g (U.S. Average: $2.31/g)
February 15, 2018: $2.31/g (U.S. Average: $2.54/g)
February 15, 2017: $2.08/g (U.S. Average: $2.28/g)
February 15, 2016: $1.49/g (U.S. Average: $1.69/g)
February 15, 2015: $2.08/g (U.S. Average: $2.25/g)
February 15, 2014: $3.16/g (U.S. Average: $3.33/g)
February 15, 2013: $3.45/g (U.S. Average: $3.65/g)
February 15, 2012: $3.45/g (U.S. Average: $3.52/g)
February 15, 2011: $2.97/g (U.S. Average: $3.12/g)