Texas gas prices stay flat; global industry in limbo following attack
Published 8:06 am Monday, January 6, 2020
Texas gas prices are unchanged in the past week, averaging $2.27/g today, according to GasBuddy’s daily survey of 13,114 stations.
Patrick DeHaan, head of petroleum analysis for GasBuddy, said the U.S. targeting an Iranian General in an attack last week creates the distinct possibility that escalations in tensions may have an affect on gas prices moving forward.
“For now, there’s been no physical disruption or retribution from Iran, but it has been promised,” DeHaan said. “Oil markets have risen on the rising risk of Iran retaliating, but until it happens, don’t expect gas prices to see much of a jump. For now, I could see a small 5-10 cent per gallon increase over the next couple of weeks, but the real potential for fireworks at the pump will be contingent on retaliation, and whether that retaliation targets oil infrastructure like Iran struck last year. For now we’re in limbo, but typically gas prices decline slightly in January and February thanks to seasonally weak gasoline demand.”
Gas prices in Texas are 6.8 cents per gallon higher than a month ago and stand 35.4 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in Texas is priced at $1.99/g today while the most expensive is $3.19/g, a difference of $1.20/g. The lowest price in the state today is $1.99/g while the highest is $3.19/g, a difference of $1.20/g.
The cheapest price in the entire country today stands at $1.89/g while the most expensive is $4.99/g, a difference of $3.10/g.
The national average price of gasoline has fallen 2.2 cents per gallon in the last week, averaging $2.57/g today.
The national average is down 2.4 cents per gallon from a month ago and stands 34.3 cents per gallon higher than a year ago.
Historical gasoline prices in Texas and the national average going back ten years:
January 6, 2019: $1.92/g (U.S. Average: $2.22/g)
January 6, 2018: $2.25/g (U.S. Average: $2.49/g)
January 6, 2017: $2.16/g (U.S. Average: $2.37/g)
January 6, 2016: $1.75/g (U.S. Average: $2.00/g)
January 6, 2015: $1.96/g (U.S. Average: $2.18/g)
January 6, 2014: $3.12/g (U.S. Average: $3.31/g)
January 6, 2013: $3.17/g (U.S. Average: $3.29/g)
January 6, 2012: $3.19/g (U.S. Average: $3.36/g)
January 6, 2011: $2.91/g (U.S. Average: $3.06/g)
January 6, 2010: $2.53/g (U.S. Average: $2.68/g)
Neighboring areas and their current gas prices:
• Midland Odessa – $2.45/g, up 1.2 cents per gallon from last week’s $2.44/g.
• San Antonio – $2.20/g, unchanged from last week’s $2.20/g.
• Austin – $2.25/g, unchanged from last week’s $2.25/g.