See how Suez Canal blockage is impacting gas prices
Increases have largely tapered off after the feverish rise in gas prices to start the year, according to Patrick De Haan, head of petroleum analysis for GasBuddy.
“We’re now seeing decreasing prices in most areas of the country, thanks to oil prices that have moderated for the time being,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “As the Suez Canal has remained block for nearly a week, we could see some volatility in the price of oil this week as the market digests any updates as hundreds of ships remain in limbo.”
Texas gas prices have fallen 2.3 cents per gallon in the past week, averaging $2.62/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.
Gas prices in Texas are 20.6 cents per gallon higher than a month ago and stand 86.7 cents per gallon higher than a year ago.
“Back stateside, refiners have made the switch to summer gasoline and price impacts have been limited thus far, but demand for gasoline remains strong,” De Haan said.
“Last week saw total gasoline demand at yet another pandemic high according to GasBuddy data. As we approach warmer weather and motorists are increasingly getting outside, it could drive prices higher, so long as COVID-19 cases don’t jump along with it and lead to new travel restrictions.”
According to GasBuddy price reports, the cheapest station in Texas is priced at $2.31/g today while the most expensive is $3.49/g, a difference of $1.18/g.
The lowest price in the state today is $2.31/g while the highest is $3.49/g, a difference of $1.18/g.
The national average price of gasoline has fallen 2.7 cents per gallon in the last week, averaging $2.84/g today.
The national average is up 12.9 cents per gallon from a month ago and stands 87.5 cents per gallon higher than a year ago.
Neighboring areas and their current gas prices:
- Midland Odessa – $2.86/g, down 2.1 cents per gallon from last week’s $2.88/g.
• San Antonio – $2.49/g, down 2.6 cents per gallon from last week’s $2.52/g.
• Austin – $2.54/g, down 1.9 cents per gallon from last week’s $2.55/g.
Historical gasoline prices in Texas and the national average going back ten years:
March 29, 2020: $1.75/g (U.S. Average: $1.97/g)
March 29, 2019: $2.46/g (U.S. Average: $2.70/g)
March 29, 2018: $2.41/g (U.S. Average: $2.65/g)
March 29, 2017: $2.10/g (U.S. Average: $2.31/g)
March 29, 2016: $1.88/g (U.S. Average: $2.04/g)
March 29, 2015: $2.21/g (U.S. Average: $2.43/g)
March 29, 2014: $3.36/g (U.S. Average: $3.54/g)
March 29, 2013: $3.52/g (U.S. Average: $3.64/g)
March 29, 2012: $3.82/g (U.S. Average: $3.92/g)
March 29, 2011: $3.48/g (U.S. Average: $3.59/g)