Average Texas gas prices rise 8.9 cents in last week; see where analyst thinks trend will go next

Published 6:38 am Monday, June 12, 2023

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Motorists have seen some hefty gas price increases in several states in the Great Lakes and in Florida. In Texas, the prices have jumped but not as much.

These areas saw prices jump up in line with behaviors that see such jumps every couple of weeks.

Exacerbating these routine jumps was government data showing the third straight week with U.S. gasoline demand over the critical 9 million barrel per day mark, putting upward pressure on average prices in other areas, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“With the Fed meeting this week to potentially alter interest rates again, we could see some turbulence in oil markets, potentially impacting states where gas prices were quiet this week, while the states that saw a big jump last week could see some moderate relief in the week ahead,” De Haan said.

“The good news has continued for average diesel prices, which again fell last week to their lowest since early 2022, helping to relieve some pressure on hard-hit consumers of diesel.”

Average gasoline prices in Texas have risen 8.9 cents per gallon in the last week, averaging $3.13/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 6.1 cents per gallon higher than a month ago and stand 151.9 cents per gallon lower than a year ago.

The national average price of diesel has fallen 1.6 cents in the last week and stands at $3.87 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.19/g yesterday while the most expensive was $4.17/g, a difference of $1.98/g.

The national average price of gasoline has risen 5.6 cents per gallon in the last week, averaging $3.57/g today.

The national average is up 5.7 cents per gallon from a month ago and stands 144.6 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.

Neighboring areas and their current gas prices:

• Midland Odessa – $3.00/g, up 1.6 cents per gallon from last week’s $2.98/g.
• San Antonio – $3.12/g, up 15.3 cents per gallon from last week’s $2.97/g.
• Austin – $3.15/g, up 11.6 cents per gallon from last week’s $3.03/g.

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

June 12, 2022: $4.65/g (U.S. Average: $5.01/g)
June 12, 2021: $2.75/g (U.S. Average: $3.08/g)
June 12, 2020: $1.80/g (U.S. Average: $2.10/g)
June 12, 2019: $2.41/g (U.S. Average: $2.71/g)
June 12, 2018: $2.71/g (U.S. Average: $2.91/g)
June 12, 2017: $2.14/g (U.S. Average: $2.32/g)
June 12, 2016: $2.14/g (U.S. Average: $2.38/g)
June 12, 2015: $2.59/g (U.S. Average: $2.79/g)
June 12, 2014: $3.43/g (U.S. Average: $3.65/g)
June 12, 2013: $3.39/g (U.S. Average: $3.63/g)