National average price of gas falls over last week; Tropical activity could impact prices
Published 6:28 am Monday, August 28, 2023
For the first time in weeks, the national average price of gasoline has fallen over the last week as the wholesale price of gasoline had been under seasonal pressure as we near the end of the summer driving season.
However, the drop may be short-lived, according to Patrick De Haan, as one of the nation’s largest refineries partially shut last week after a fire at a storage tank, and as we see more tropical activity that could lead to further disruption.
The head of petroleum analysis at GasBuddy said while GasBuddy is closely monitoring Florida for challenges related to Tropical Storm Idalia and is prepared to activate the fuel availability tracker, the rest of the nation could see gas price declines reversing pending the outcome of refinery issues that continue to put upward pressure on wholesale gasoline prices.
Average gasoline prices in Texas have fallen 9.0 cents per gallon in the last week, averaging $3.36/g today, according to GasBuddy’s survey of 13,114 stations in Texas.
Prices in Texas are 5 cents per gallon lower than a month ago and stand 2.4 cents per gallon higher than a year ago.
The national average price of diesel has risen 3.3 cents in the last week and stands at $4.333 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.99/g Sunday while the most expensive was $4.29/g, a difference of $1.30/g.
The national average price of gasoline has fallen 4 cents per gallon in the last week, averaging $3.78/g today.
The national average is up 5.8 cents per gallon from a month ago and stands 3.5 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.
Neighboring areas and their current gas prices:
• Midland Odessa – $3.38/g, down 1.5 cents per gallon from last week’s $3.40/g.
• San Antonio – $3.31/g, down 11.9 cents per gallon from last week’s $3.42/g.
• Austin – $3.38/g, down 8.4 cents per gallon from last week’s $3.46/g.
Historical gasoline prices in Texas and the national average going back ten years:
August 28, 2022: $3.34/g (U.S. Average: $3.81/g)
August 28, 2021: $2.80/g (U.S. Average: $3.14/g)
August 28, 2020: $1.92/g (U.S. Average: $2.24/g)
August 28, 2019: $2.29/g (U.S. Average: $2.57/g)
August 28, 2018: $2.60/g (U.S. Average: $2.83/g)
August 28, 2017: $2.18/g (U.S. Average: $2.37/g)
August 28, 2016: $2.01/g (U.S. Average: $2.21/g)
August 28, 2015: $2.26/g (U.S. Average: $2.51/g)
August 28, 2014: $3.24/g (U.S. Average: $3.43/g)
August 28, 2013: $3.40/g (U.S. Average: $3.53/g)