ANALYST: Little good news on gas price front; pump prices rise for 5th straight week
Published 6:40 am Monday, January 30, 2023
The national average price of gasoline has risen for the fifth straight week as retailers pass along the rise in wholesale gasoline prices due to continued challenges: refinery utilization that still hasn’t fully recovered from December’s cold weather and refinery maintenance season that’s just around the corner, according to Patrick De Haan.
The head of petroleum analysis at GasBuddy said there appears to be little good news on the gas price front, with prices unlikely to turn around any time soon.
“Because of the surge in prices last spring, many refineries that had planned maintenance deferred maintenance until 2023,” De Haan said. “With the can kicked to this year, we may have similar challenges producing enough refined products to meet demand, especially with the European Union cutting off refined products from Russia starting Feb. 5.”
Average gasoline prices in Texas have risen 7.3 cents per gallon in the last week, averaging $3.09/g today, according to GasBuddy’s survey of 13,114 stations in Texas.
Prices in Texas are 30.0 cents per gallon higher than a month ago and stand 9.8 cents per gallon higher than a year ago.
The national average price of diesel has risen 5.4 cents in the last week and stands at $4.65 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.29/g Sunday while the most expensive was $4.17/g, a difference of $1.88/g.
The national average price of gasoline has risen 9.7 cents per gallon in the last week, averaging $3.49/g today.
The national average is up 33.3 cents per gallon from a month ago and stands 14.1 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 – $3.21/g, down 1.4 cents per gallon from last week’s $3.22/g.
• San Antonio – $3.13/g, up 16.3 cents per gallon from last week’s $2.97/g.
• Austin – $3.14/g, up 14.7 cents per gallon from last week’s $2.99/g.
Historical gasoline prices in Texas and the national average going back ten years:
January 30, 2022: $2.99/g (U.S. Average: $3.34/g)
January 30, 2021: $2.11/g (U.S. Average: $2.43/g)
January 30, 2020: $2.16/g (U.S. Average: $2.49/g)
January 30, 2019: $1.97/g (U.S. Average: $2.27/g)
January 30, 2018: $2.36/g (U.S. Average: $2.59/g)
January 30, 2017: $2.08/g (U.S. Average: $2.27/g)
January 30, 2016: $1.58/g (U.S. Average: $1.80/g)
January 30, 2015: $1.85/g (U.S. Average: $2.04/g)
January 30, 2014: $3.07/g (U.S. Average: $3.27/g)
January 30, 2013: $3.22/g (U.S. Average: $3.40/g)