Amarillo gas prices jump 11.7 cents per gallon, average $2.76/gallon on Monday

AMARILLO, Texas (KAMR/KCIT) – The most recent report from GasBuddy described that gas prices in Amarillo rose 11.7 cents per gallon in the last week, averaging $2.76/gallon on Monday. Those prices were noted as 4.8 cents per gallon lower than a month ago and 82.2 cents per gallon lower than a year ago.

GasBuddy reported that the cheapest station in Amarillo was priced at $2.56/gallon on Sunday while the most expensive was $2.79/gallon, a difference of 23 cents. The lowest price in Texas on Sunday was $2.03/gallon while the most expensive was $3.59/gallon, a difference of $1.56.

Nationally, the average price of gas rose 1.2 cents per gallon in the last week to reach an average of $3.16/gallon on Monday. That national average was noted as down 18.8 cents per gallon from a month ago and 67.4 cents per gallon lower than a year ago. The national average price of diesel fell 2.1 cents in the last week to reach $3.55/gallon.

Gas prices in areas neighboring Amarillo included:

• Lubbock- $2.58/gallon, unchanged from last week’s $2.58/gallon.
• Midland Odessa- $2.76/gallon, up 22.5 cents per gallon from last week’s $2.53/gallon.
• Oklahoma- $2.67/gallon, down 5.1 cents per gallon from last week’s $2.72/gallon.

“With oil prices jumping after the U.S. Federal Reserve cut interest rates by a larger-than-expected half percent, we’ve seen some states where gas prices have inched back up, while others have continued to decline. Most of these increases should be temporary with declines returning in the days and weeks ahead,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, for California and areas of Nevada and western Arizona, areas that had been left out of the recent drops, refinery issues are improving and gas prices should start moving lower. While the future looks good for gas prices to continue trending lower for most in the weeks ahead, oil’s jump may mute the downside potential just a bit — for now.”

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.