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Texas gas prices rise slightly over week; see what’s predicted next

Gas prices across the country have been a bit sideways in the last week with a mixed bag of decreases and increases, but overall, the national average hasn’t seen much meaningful direction as oil prices remain under their early-July levels thus far.

Patrick De Haan, head of petroleum analysis for GasBuddy, said this is thanks to OPEC coming to an agreement on production over the weekend.

“OPEC’s plan is to raise oil production by 400,000 bpd each month until 2022, at which time OPEC’s oil production will be back at pre-Covid levels,” De Haan said.

Texas gas prices have risen 0.9 cents per gallon in the past week, averaging $2.84/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 10.0 cents per gallon higher than a month ago and stand 94.8 cents per gallon higher than a year ago.

“It’s a positive development in light of U.S. gasoline demand which last week rose nearly 2%, which should act as a loose ceiling on the price of oil, and could mean we’re even closer to seeing a peak in the national average if we haven’t already,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas is priced at $2.49/g today while the most expensive is $3.51/g, a difference of $1.02/g.

The lowest price in the state today is $2.49/g while the highest is $3.51/g, a difference of $1.02/g.

The national average price of gasoline has risen 1.3 cents per gallon in the last week, averaging $3.16/g today.

The national average is up 10.2 cents per gallon from a month ago and stands 98.0 cents per gallon higher than a year ago.

Neighboring areas and their current gas prices:

Midland Odessa – $3.03/g, up 0.5 cents per gallon from last week’s $3.02/g.
San Antonio – $2.79/g, up 6.0 cents per gallon from last week’s $2.73/g.
Austin – $2.81/g, up 3.1 cents per gallon from last week’s $2.78/g.

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

July 19, 2020: $1.90/g (U.S. Average: $2.18/g)
July 19, 2019: $2.51/g (U.S. Average: $2.77/g)
July 19, 2018: $2.64/g (U.S. Average: $2.85/g)
July 19, 2017: $2.07/g (U.S. Average: $2.27/g)
July 19, 2016: $2.02/g (U.S. Average: $2.19/g)
July 19, 2015: $2.53/g (U.S. Average: $2.76/g)
July 19, 2014: $3.42/g (U.S. Average: $3.58/g)
July 19, 2013: $3.54/g (U.S. Average: $3.67/g)
July 19, 2012: $3.29/g (U.S. Average: $3.43/g)
July 19, 2011: $3.59/g (U.S. Average: $3.67/g)