Gas price increases stall in Texas
Published 3:37 pm Tuesday, May 7, 2019
Special to The News
Prices at the gas pumps in Texas were unchanged last last, giving drivers some respite from what had been a relentless increases for fuel.
Consumer website GasBuddy reported gas prices at $2.59 for a gallon of regular, according to their survey of 13,114 stations. Gas prices in Texas were 11.8 cents per gallon higher than a month ago, 2.3 cents per gallon higher than a year ago. GasBuddy said the cheapest station in Texas was priced at $2.19 per gallon while the most expensive was $3.29. The cheapest price in the country was $2.15 while the most expensive is $5.58.
Here are gasoline prices in Texas and the national average going back a decade, according to GasBuddy:
- May 6, 2018: $2.57; U.S. average: $2.80
- May 6, 2017: $2.18; U.S. average: $2.34
- May 6, 2016: $2.00; U.S. average: $2.22
- May 6, 2015: $2.41; U.S. average: $2.64
- May 6, 2014: $3.44; U.S. average: $3.67
- May 6, 2013: $3.33; U.S. average: $3.52
- May 6, 2012: $3.63; U.S. average: $3.78
- May 6, 2011: $3.86; U.S. average: $3.98
- May 6, 2010: $2.82; U.S. average: $2.92
- May 6, 2009: $2.01; U.S. average: $2.11
“It appears that large increases in gas prices have begun to fade to distant memory,” said Patrick DeHaan, head of petroleum analysis for GasBuddy, “lending credibility to the notion that gas prices may be close to peaking for the time being. Oil prices have plummeted, and with President Trump’s shocking warning Sunday about raising tariffs on China, oil prices may see another weekly loss along with wholesale gasoline prices on the worry that perhaps a trade deal is not as close as anticipated, risking the recent growth in the U.S. economy and potentially leading to lower oil demand.
“For now, I believe we’re close to seeing gas prices peak in the next few weeks or so in most of the U.S., and barring any future unexpected outages, I think most the country has seen the risk of big price increases melt away. We’re in the last inning or so of the seasonally rally — once this game is over we’ll likely begin to see prices recede in the month of June, tracking very closely to what we experienced last summer.”