Average Texas gas prices rise; analyst talks expectations ahead of peak summer driving season

Published 6:45 am Monday, February 20, 2023

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Motorists across many areas of the country have seen gas prices inching down for another week, while some states have moved higher.

“We’ve seen some refinery challenges in pockets of the country, while others are starting the transition to summer gasoline, weighing on prices. For diesel, the outlook remains bright with prices continuing to fall,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Oil prices have softened over the last week, helping to limit any upside at the pump, with strong economic data leading to concern that the Fed will continue to use interest rates to slow the economy.”

De Haan said this could weaken demand as the country heads into the peak summer driving season.

Average gasoline prices in Texas have risen 1.9 cents per gallon in the last week, averaging $2.96/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 1.1 cents per gallon lower than a month ago and stand 22.3 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.55/g Sunday while the most expensive was $4.17/g, a difference of $1.62/g.

The national average price of gasoline is unchanged  in the last week, averaging $3.37/g today. The national average is down 2.7 cents per gallon from a month ago and stands 14.5 cents per gallon lower 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.

The national average price of diesel has fallen 6.9 cents in the last week and stands at $4.45 per gallon.

Neighboring areas and their current gas prices:

• Midland Odessa – $3.05/g, down 3.2 cents per gallon from last week’s $3.08/g.
• San Antonio – $2.96/g, up 8.5 cents per gallon from last week’s $2.87/g.
• Austin – $2.99/g, up 3.4 cents per gallon from last week’s $2.96/g.

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

February 20, 2022: $3.19/g (U.S. Average: $3.52/g)
February 20, 2021: $2.28/g (U.S. Average: $2.64/g)
February 20, 2020: $2.15/g (U.S. Average: $2.46/g)
February 20, 2019: $2.10/g (U.S. Average: $2.38/g)
February 20, 2018: $2.27/g (U.S. Average: $2.52/g)
February 20, 2017: $2.07/g (U.S. Average: $2.28/g)
February 20, 2016: $1.52/g (U.S. Average: $1.71/g)
February 20, 2015: $2.11/g (U.S. Average: $2.27/g)
February 20, 2014: $3.19/g (U.S. Average: $3.38/g)
February 20, 2013: $3.63/g (U.S. Average: $3.77/g)