Average Texas gas price falls 1.5 cents per gallon last week; analyst talks about what’s next

Published 7:45 am Tuesday, September 5, 2023

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The national average price of gas fell to its lowest level since July ahead of Labor Day, even as oil prices rose last week to the highest level since last November.

Patrick De Haan, head of petroleum analysis at GasBuddy said, in addition, Hurricane Idalia steered well clear of significant energy infrastructure, leading to zero impact to gas prices.

“With the switch back to winter gasoline less than two weeks away, we could eventually see more downward pressure on gas prices,” De Haan said. “However, any disturbances that threaten the Gulf could delay any decline between now and then, creating a bit of a bumpy ride for the next week or two before more relief arrives toward late September.”

Average gasoline prices in Texas have fallen 1.5 cents per gallon in the last week, averaging $3.35/g Tuesday, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 11.5 cents per gallon lower than a month ago and stand 13.1 cents per gallon higher than a year ago.

The national average price of diesel has risen 9.6 cents in the last week and stands at $4.435 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.89/g Monday while the most expensive was $4.39/g, a difference of $1.50/g.

The national average price of gasoline has fallen 1.2 cents per gallon in the last week, averaging $3.77/g today.

The national average is down 4.4 cents per gallon from a month ago and stands 2.1 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 – $3.38/g, unchanged  from last week’s $3.38/g.
• San Antonio – $3.32/g, up 1.3 cents per gallon from last week’s $3.31/g.
• Austin – $3.39/g, up 0.9 cents per gallon from last week’s $3.38/g.

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

September 5, 2022: $3.22/g (U.S. Average: $3.75/g)
September 5, 2021: $2.82/g (U.S. Average: $3.18/g)
September 5, 2020: $1.90/g (U.S. Average: $2.21/g)
September 5, 2019: $2.28/g (U.S. Average: $2.57/g)
September 5, 2018: $2.61/g (U.S. Average: $2.85/g)
September 5, 2017: $2.50/g (U.S. Average: $2.65/g)
September 5, 2016: $2.00/g (U.S. Average: $2.19/g)
September 5, 2015: $2.17/g (U.S. Average: $2.41/g)
September 5, 2014: $3.23/g (U.S. Average: $3.43/g)
September 5, 2013: $3.38/g (U.S. Average: $3.56/g)