Texas gas prices show week-over-week decline. So, what can we expect next?

Published 6:21 am Monday, March 21, 2022

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For the first time in 12 weeks, the national average price of gasoline has declined.

“While the decline is still subject to changes in global supply and demand, COVID and Russia’s war on Ukraine, we are poised to see additional downdrafts at the pump this week in most areas,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

Average gasoline prices in Texas have fallen 9 cents per gallon in the last week, averaging $3.90/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 71 cents per gallon higher than a month ago and stand $1.26/g higher than a year ago.

“For now, gasoline demand has shown absolutely no signs of buckling under the pressure of higher prices, even as California nears an average of $6 per gallon, with spring break travel well underway,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas was priced at $3.16/g Sunday while the most expensive was $4.82/g, a difference of $1.66/g.

The lowest price in the state Sunday was $3.16/g, while the highest was $4.82/g, a difference of $1.66/g.

“If the situation does worsen, with more oil being kept away from global markets, it’s not impossible that gas prices would still have to climb a considerable amount for Americans to start curbing their insatiable demand for gasoline,” De Haan said.

The national average price of gasoline has fallen 9 cents per gallon in the last week, averaging $4.23/g today.

The national average is up 71.5 cents per gallon from a month ago and stands $1.37/g higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices:

• Midland Odessa – $4.02/g, down 3.0 cents per gallon from last week’s $4.05/g.
• San Antonio – $3.86/g, down 10.7 cents per gallon from last week’s $3.97/g.
• Austin – $3.91/g, down 8.6 cents per gallon from last week’s $3.99/g.

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

March 21, 2021: $2.64/g (U.S. Average: $2.86/g)
March 21, 2020: $1.88/g (U.S. Average: $2.09/g)
March 21, 2019: $2.38/g (U.S. Average: $2.61/g)
March 21, 2018: $2.33/g (U.S. Average: $2.57/g)
March 21, 2017: $2.09/g (U.S. Average: $2.29/g)
March 21, 2016: $1.82/g (U.S. Average: $1.98/g)
March 21, 2015: $2.22/g (U.S. Average: $2.42/g)
March 21, 2014: $3.34/g (U.S. Average: $3.52/g)
March 21, 2013: $3.56/g (U.S. Average: $3.69/g)
March 21, 2012: $3.74/g (U.S. Average: $3.87/g)