Refineries boosting output could key good news on the horizon for drivers, analyst says

The national average price of gasoline has seen a continued but measured rise compared to last week, but the pace of increases slowed in the last few days.

With government data showing a rise in refinery utilization last week, there may be some good news on the horizon for drivers, according to Patrick De Haan.

The head of petroleum analysis at GasBuddy said much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline and rising demand.

“If refineries continue to boost output of products like gasoline, diesel and jet fuel, it could mean earlier-than-expected relief,” he said. “However, the changeover is still in process, so while we’ll likely see the continuation of upward pressure on prices, improvement in output could slow that pressure down some.”

Average gasoline prices in Texas have fallen 1.8 cents per gallon in the last week, averaging $2.89/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 11.4 cents per gallon higher than a month ago and stand 17.5 cents per gallon lower than a year ago.

The national average price of diesel has fallen 1.3 cents in the last week and stands at $4.02 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.29/g Sunday while the most expensive was $3.99/g, a difference of $1.70/g.

The national average price of gasoline has risen 6.2 cents per gallon in the last week, averaging $3.40/g today.

The national average is up 23 cents per gallon from a month ago and stands 4.5 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 – $2.96/g, up 8.1 cents per gallon from last week’s $2.88/g.
• San Antonio – $2.79/g, down 8.9 cents per gallon from last week’s $2.87/g.
• Austin – $2.83/g, down 9.0 cents per gallon from last week’s $2.92/g.

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

March 11, 2023: $3.06/g (U.S. Average: $3.44/g)
March 11, 2022: $4.00/g (U.S. Average: $4.33/g)
March 11, 2021: $2.56/g (U.S. Average: $2.84/g)
March 11, 2020: $2.05/g (U.S. Average: $2.31/g)
March 11, 2019: $2.25/g (U.S. Average: $2.49/g)
March 11, 2018: $2.28/g (U.S. Average: $2.51/g)
March 11, 2017: $2.09/g (U.S. Average: $2.30/g)
March 11, 2016: $1.67/g (U.S. Average: $1.89/g)
March 11, 2015: $2.25/g (U.S. Average: $2.45/g)
March 11, 2014: $3.24/g (U.S. Average: $3.49/g)

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