Average Texas gas prices fall 4.7 cents in past week; analyst talks what’s next

Published 6:22 am Monday, February 12, 2024

We’ve seen the national average price of gasoline inching higher now for three straight weeks, but the worst is yet to come.

With several major refinery issues persisting across various regions, the eventual transition to summer gasoline is likely to continue to put upward pressure on prices, with larger weekly increases likely coming in March and April, according to Patrick De Haan.

The head of petroleum analysis at GasBuddy said while he feels optimistic that the rise in prices will be merely average, the fact that we’ve already seen a few high-level refinery problems doesn’t bode well for the spring squeeze.

Average gasoline prices in Texas have fallen 4.7 cents per gallon in the last week, averaging $2.77/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 13.4 cents per gallon higher than a month ago and stand 17.2 cents per gallon lower than a year ago.

The national average price of diesel has risen 6.9 cents in the last week and stands at $3.99 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $1.36/g Sunday while the most expensive was $3.99/g, a difference of $2.63/g.

The national average price of gasoline has risen 5.2 cents per gallon in the last week, averaging $3.17/g today.

The national average is up 9.6 cents per gallon from a month ago and stands 20 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 – $2.88/g, unchanged  from last week’s $2.88/g.
• San Antonio – $2.74/g, down 14.6 cents per gallon from last week’s $2.88/g.
• Austin – $2.77/g, down 12.5 cents per gallon from last week’s $2.90/g.

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

February 12, 2023: $2.95/g (U.S. Average: $3.37/g)
February 12, 2022: $3.13/g (U.S. Average: $3.48/g)
February 12, 2021: $2.19/g (U.S. Average: $2.49/g)
February 12, 2020: $2.08/g (U.S. Average: $2.42/g)
February 12, 2019: $1.97/g (U.S. Average: $2.28/g)
February 12, 2018: $2.33/g (U.S. Average: $2.56/g)
February 12, 2017: $2.08/g (U.S. Average: $2.27/g)
February 12, 2016: $1.51/g (U.S. Average: $1.70/g)
February 12, 2015: $2.06/g (U.S. Average: $2.23/g)
February 12, 2014: $3.12/g (U.S. Average: $3.31/g)