Gas price decline likely tied to COVID cases, Christmas travel could be impacted

Published 8:40 am Monday, December 20, 2021

Average gasoline prices continue to fall as omicron cases surge for yet another week, leading oil demand, and thus oil prices, to stall.

The decline in gas prices will likely continue until new COVID cases slow down, according to Patrick De Haan, head of petroleum analysis for GasBuddy.

Texas gas prices have risen 0.3 cents per gallon in the past week, averaging $2.86/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 14.0 cents per gallon lower than a month ago and stand 95.9 cents per gallon higher than a year ago.

“With gas prices very likely to continue declining this week in most states, we may see Christmas gas prices fall just under their all-time high on the holiday, which was $3.26 in 2013,” De Haan said.

“Beyond Christmas, with omicron cases likely to continue climbing, I do believe we’ll see a more noticeable hit on gasoline demand once the holidays are over.”

According to GasBuddy price reports, the cheapest station in Texas is priced at $2.35/g today while the most expensive is $3.89/g, a difference of $1.54/g.

The lowest price in the state today is $2.35/g while the highest is $3.89/g, a difference of $1.54/g.

“There’s a rising likelihood that we won’t see gas prices rising for the rest of the year- with one caveat- gas prices in the Great Lakes states have plummeted by 30 to 50 cents in some areas, and stations in those areas may raise prices slightly should oil prices slow their decline,” De Haan said.

“Aside from those areas, declines at the pump are likely to continue as we close out 2021.”

The national average price of gasoline has fallen 2.9 cents per gallon in the last week, averaging $3.30/g today.

The national average is down 11.1 cents per gallon from a month ago and stands $1.09/g higher than a year ago.

Neighboring areas and their current gas prices:

Midland Odessa – $3.03/g, up 1.7 cents per gallon from last week’s $3.02/g.
San Antonio – $2.63/g, down 4.4 cents per gallon from last week’s $2.67/g.
Austin – $2.77/g, down 3.1 cents per gallon from last week’s $2.80/g.

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

December 20, 2020: $1.90/g (U.S. Average: $2.21/g)
December 20, 2019: $2.21/g (U.S. Average: $2.56/g)
December 20, 2018: $2.02/g (U.S. Average: $2.35/g)
December 20, 2017: $2.18/g (U.S. Average: $2.43/g)
December 20, 2016: $2.04/g (U.S. Average: $2.25/g)
December 20, 2015: $1.79/g (U.S. Average: $1.99/g)
December 20, 2014: $2.18/g (U.S. Average: $2.41/g)
December 20, 2013: $3.01/g (U.S. Average: $3.21/g)
December 20, 2012: $3.02/g (U.S. Average: $3.21/g)
December 20, 2011: $3.05/g (U.S. Average: $3.21/g)