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Gas demand sets another 2021 week high; analyst shares when curve will end

The downward move in the national average two weeks ago was short-lived, with the national average rebounding last week on continued strong gasoline demand in the U.S., which has pushed oil prices back up after a brief lull.

Patrick De Haan, head of petroleum analysis for GasBuddy, said demand last week set another 2021 high, eclipsing the previous week’s record as the nation moves into the prime of the summer driving season.

Texas gas prices have risen 1.4 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 3.5 cents per gallon higher than a month ago and stand 97.9 cents per gallon higher than a year ago.

“For the next week or two, we may continue to see gas prices inch higher, but once schools begin re-opening and vacation season ends, we’ll likely see demand trail off, allowing for gas prices to decline gently heading into Labor Day,” 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 $3.49/g, a difference of 100.0 cents per gallon.

The lowest price in the state today is $2.49/g while the highest is $3.49/g, a difference of 100.0 cents per gallon.

The national average price of gasoline has risen 1.7 cents per gallon in the last week, averaging $3.16/g today.

The national average is up 3.8 cents per gallon from a month ago and stands 98.2 cents per gallon higher than a year ago.

Neighboring areas and their current gas prices:

Midland Odessa – $3.00/g, down 0.5 cents per gallon from last week’s $3.00/g.
San Antonio – $2.70/g, down 3.2 cents per gallon from last week’s $2.73/g.
Austin – $2.77/g, down 0.8 cents per gallon from last week’s $2.78/g.

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

August 2, 2020: $1.87/g (U.S. Average: $2.17/g)
August 2, 2019: $2.45/g (U.S. Average: $2.71/g)
August 2, 2018: $2.64/g (U.S. Average: $2.87/g)
August 2, 2017: $2.14/g (U.S. Average: $2.33/g)
August 2, 2016: $1.95/g (U.S. Average: $2.11/g)
August 2, 2015: $2.45/g (U.S. Average: $2.65/g)
August 2, 2014: $3.35/g (U.S. Average: $3.50/g)
August 2, 2013: $3.48/g (U.S. Average: $3.62/g)
August 2, 2012: $3.36/g (U.S. Average: $3.53/g)
August 2, 2011: $3.61/g (U.S. Average: $3.70/g)