Gas prices up in Texas but relief seen in future
Average retail gasoline prices in Texas have risen 4.7 cents per gallon in the past week, averaging $2.55/g yesterday, according to GasBuddy’s daily survey of 13,114 gas outlets in Texas. This compares with the national average that has increased 0.4 cents per gallon in the last week to $2.76/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Texas during the past week, prices yesterday were 89.0 cents per gallon lower than the same day one year ago and are 10.2 cents per gallon higher than a month ago. The national average has increased 9.4 cents per gallon during the last month and stands 90.5 cents per gallon lower than this day one year ago.
“We’re finally starting to get a well-needed respite from rising gasoline prices across the country, led by California’s nearly double digit per gallon decline in the last week,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “While some states did indeed see increases over the last week, I remain optimistic after OPEC’s meeting last week to keep oil production unchanged that we’ll soon see relief spreading across more of the country. The percentage of stations selling gasoline over $3/gallon has declined over the last week, while the percentage of stations selling under $2.50/gallon has also declined. This leads to less variety in gas prices, yet motorists still can stand to save on their next fill up by locating those hard to find stations offering a much lower price on gasoline. Now with GasBuddy’s new and long awaited iPad app, even tablet users can join in on finding those deals,” DeHaan said.