Compare Texas gas prices today to a month and year ago; analyst talks what’s coming next

Published 6:16 am Monday, August 8, 2022

The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week.

By the end of the week, 100,000 stations will be at $3.99 or less, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“Diesel continues to decline as well, and will likely soon fall under $5 per gallon,” De Haan said.

Average gasoline prices in Texas have fallen 15.9 cents per gallon in the last week, averaging $3.50/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 74.5 cents per gallon lower than a month ago and stand 65.7 cents per gallon higher than a year ago.

“We’ve even seen nearly a dozen stations in low-priced states fall under $2.99, a welcome return to some lucky motorists in areas of Texas, Oklahoma, Kansas and Iowa,” De Haan said.

“The groundwork is laid for a ninth week of decline, with areas of the West Coast soon ditching the $5 per gallon average. While I’m upbeat the drop can continue for another couple weeks, we’re starting to see some activity in the tropics, which may increase risk of potential disruption.”
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.91/g on Sunday, while the most expensive was $4.89/g, a difference of $1.98/g.

The lowest price in Texas on Sunday was $2.91/g, while the highest was $4.89/g, a difference of $1.98/g.

The national average price of gasoline has fallen 15.8 cents per gallon in the last week, averaging $4.01/g today.

The national average is down 68.7 cents per gallon from a month ago and stands 83.6 cents per gallon 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 – $3.67/g, down 14.3 cents per gallon from last week’s $3.81/g.

• San Antonio – $3.44/g, down 13.3 cents per gallon from last week’s $3.57/g.

• Austin – $3.55/g, down 14.8 cents per gallon from last week’s $3.70/g.

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

August 8, 2021: $2.85/g (U.S. Average: $3.18/g)
August 8, 2020: $1.83/g (U.S. Average: $2.17/g)
August 8, 2019: $2.42/g (U.S. Average: $2.66/g)
August 8, 2018: $2.64/g (U.S. Average: $2.87/g)
August 8, 2017: $2.16/g (U.S. Average: $2.36/g)
August 8, 2016: $1.94/g (U.S. Average: $2.12/g)
August 8, 2015: $2.39/g (U.S. Average: $2.60/g)
August 8, 2014: $3.30/g (U.S. Average: $3.47/g)
August 8, 2013: $3.44/g (U.S. Average: $3.58/g)
August 8, 2012: $3.47/g (U.S. Average: $3.65/g)