Texas gas prices jump again; analyst outlines when that will change

Published 9:22 am Monday, November 1, 2021

The jump in gas prices that started a month ago is running out of steam for the time being, as oil prices have stabilized.

Patrick De Haan, head of petroleum analysis for GasBuddy, said for most motorists, gas prices are likely to greatly slow their recent ascent, and “we could even see some small declines in the week ahead.”

Texas gas prices have risen 1.1 cents per gallon in the past week, averaging $3.05/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 22.0 cents per gallon higher than a month ago and stand $1.25/g higher than a year ago.

“OPEC is planning to meet next week, and while it doesn’t seem likely there will be any boost in oil output, its meeting and comments could easily drive the market up or down,” De Haan said.

“The odds remain high that gas prices will remain near today’s elevated levels going into the holidays, barring additional OPEC supply.”

According to GasBuddy price reports, the cheapest station in Texas is priced at $2.57/g today while the most expensive is $4.09/g, a difference of $1.52/g.

The lowest price in the state today is $2.57/g while the highest is $4.09/g, a difference of $1.52/g.

The national average price of gasoline has risen 0.6 cents per gallon in the last week, averaging $3.38/g today.

The national average is up 19.5 cents per gallon from a month ago and stands $1.26/g higher than a year ago.

Neighboring areas and their current gas prices:

  • Midland Odessa – $3.14/g, unchanged  from last week’s $3.14/g.
    • San Antonio – $2.91/g, down 0.4 cents per gallon from last week’s $2.92/g.
    • Austin – $2.98/g, up 0.7 cents per gallon from last week’s $2.97/g.

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

November 1, 2020: $1.80/g (U.S. Average: $2.12/g)
November 1, 2019: $2.27/g (U.S. Average: $2.61/g)
November 1, 2018: $2.51/g (U.S. Average: $2.76/g)
November 1, 2017: $2.25/g (U.S. Average: $2.50/g)
November 1, 2016: $2.03/g (U.S. Average: $2.20/g)
November 1, 2015: $1.92/g (U.S. Average: $2.18/g)
November 1, 2014: $2.77/g (U.S. Average: $2.98/g)
November 1, 2013: $3.01/g (U.S. Average: $3.26/g)
November 1, 2012: $3.29/g (U.S. Average: $3.50/g)
November 1, 2011: $3.26/g (U.S. Average: $3.43/g)