Amarillo gas prices fall 5.4 cents, average $2.87/gallon on Monday

AMARILLO, Texas (KAMR/KCIT) — According to the most recent GasBuddy report, gas prices in Amarillo fell by 5.4 cents per gallon last week to reach an average of $2.87/gallon on Monday. Those prices were noted as 1.2 cents per gallon higher than a month ago and 31.8 cents lower than a year ago.

GasBuddy reported that the cheapest station in Amarillo on Sunday was priced at $2.74/gallon while the most expensive was $2.99/gallon, a difference of 25 cents. The lowest price in Texas on Sunday was noted at $2.15/gallon while the highest was $3.89/gallon, a difference of $1.74.

Nationally, the average price of gas has fallen 1.9 cents from last week, reaching an average of $3.47/gallon on Monday. That national average was noted as up 3.5 cents per gallon from a month ago and 9.9 cents per gallon lower than a year ago. The national average price of diesel fell 4 cents per gallon in the last week to stand at $3.79/gallon.

Gas prices in areas neighboring Amarillo included:

• Lubbock- $2.86/gallon, down 4.6 cents per gallon from last week’s $2.91/gallon.
• Midland Odessa- $2.94/gallon, down 10.6 cents per gallon from last week’s $3.04/gallon.
• Oklahoma- $3.03/gallon, down 6.9 cents per gallon from last week’s $3.10/gallon.

“Most of the country has seen a reprieve from rising gasoline prices, thanks to weaker-than-expected gasoline demand, building supplies and a quiet period in the tropics,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While a good portion of the nation saw average gas prices decline, severe weather completely knocked out power to a major refinery outside Chicago early last week, immediately impacting gasoline supplies to Illinois, Wisconsin, Indiana and Michigan, and pushing prices up considerably. We’ve often said how critical refineries are, and with a long power outage, we’re seeing the impact very quickly, but relief will eventually arrive. For now, as we approach the end of summer vacations, I’m hopeful gas prices will continue to edge slightly lower in the week ahead.”

For the latest Amarillo news and regional updates, check with MyHighPlains.com and tune in to KAMR Local 4 News at 5:00, 6:00, and 10:00 p.m. and Fox 14 News at 9:00 p.m. CST.