Average gas prices in Texas fall 9.3 cents per gallon in last week. Is this a delay or a trend?

Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week.

While the pause has certainly been nice, this is more like a delay than a trend, Patrick De Haan said.

The head of petroleum analysis at GasBuddy said it’s likely only a matter of time before motorists see the rise re-engage and prices start to head higher.

“Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80 percent of capacity, meaning there’s less gasoline and diesel being produced,” De Haan said.

“That’s why it’s just a matter of time before prices collide with rising demand and start to accelerate again.”

Average gasoline prices in Texas have fallen 9.3 cents per gallon in the last week, averaging $2.79/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 4.1 cents per gallon higher than a month ago and stand 7.1 cents per gallon lower than a year ago.

The national average price of diesel has fallen 2.6 cents in the last week and stands at $4.06 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $1.87/g Sunday, while the most expensive was $4.32/g, a difference of $2.45/g.

The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.24/g today.

The national average is up 13.3 cents per gallon from a month ago and stands 9.2 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 – $2.87/g, down 4.5 cents per gallon from last week’s $2.92/g.
• San Antonio – $2.73/g, down 15.9 cents per gallon from last week’s $2.89/g.
• Austin – $2.77/g, down 14.4 cents per gallon from last week’s $2.92/g.

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

February 26, 2023: $2.86/g (U.S. Average: $3.33/g)
February 26, 2022: $3.26/g (U.S. Average: $3.59/g)
February 26, 2021: $2.41/g (U.S. Average: $2.71/g)
February 26, 2020: $2.16/g (U.S. Average: $2.45/g)
February 26, 2019: $2.15/g (U.S. Average: $2.41/g)
February 26, 2018: $2.27/g (U.S. Average: $2.51/g)
February 26, 2017: $2.06/g (U.S. Average: $2.28/g)
February 26, 2016: $1.51/g (U.S. Average: $1.73/g)
February 26, 2015: $2.16/g (U.S. Average: $2.34/g)
February 26, 2014: $3.20/g (U.S. Average: $3.43/g)

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