Hurricane Laura leads to national gas price jump. Where does Texas stand?

Published 6:09 am Monday, August 31, 2020

Gas prices have reached their highest post-coronavirus level as Hurricane Laura caused Gulf Coast refineries to shut, limiting production as gasoline demand edged higher, said Patrick De Haan, head of petroleum analysis for GasBuddy.

“The rebound in demand comes with just a week left in the summer driving season and isn’t expected to continue once the driving season wraps up, but while some may see prices tick higher over the next few days, more decreases are coming to gas prices once Labor Day is over as demand will likely move lower,” De Haan said.

Texas gas prices have risen 3.2 cents per gallon in the past week, averaging $1.91/g today, according to GasBuddy’s daily survey of 13,114 stations.

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Gas prices in Texas are 3.4 cents per gallon higher than a month ago and stand 37.2 cents per gallon lower than a year ago.

“In addition, the switch back to cheaper winter gasoline will happen in a few weeks, giving more potential downward momentum for prices,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.51/g today while the most expensive is $2.49/g, a difference of 98.0 cents per gallon.

The lowest price in the state today is $1.51/g while the highest is $2.49/g, a difference of 98.0 cents per gallon.

The national average price of gasoline has risen 3.5 cents per gallon in the last week, averaging $2.22/g today.

The national average is up 4.0 cents per gallon from a month ago and stands 34.4 cents per gallon lower than a year ago.

Historical gasoline prices in Texas and the national average going back ten years:
August 31, 2019: $2.28/g (U.S. Average: $2.57/g)
August 31, 2018: $2.60/g (U.S. Average: $2.83/g)
August 31, 2017: $2.32/g (U.S. Average: $2.51/g)
August 31, 2016: $2.03/g (U.S. Average: $2.22/g)
August 31, 2015: $2.22/g (U.S. Average: $2.47/g)
August 31, 2014: $3.23/g (U.S. Average: $3.43/g)
August 31, 2013: $3.40/g (U.S. Average: $3.58/g)
August 31, 2012: $3.67/g (U.S. Average: $3.83/g)
August 31, 2011: $3.46/g (U.S. Average: $3.61/g)
August 31, 2010: $2.51/g (U.S. Average: $2.65/g)

Neighboring areas and their current gas prices:
• Midland Odessa – $2.07/g, up 13.1 cents per gallon from last week’s $1.94/g.
• San Antonio – $1.78/g, down 0.8 cents per gallon from last week’s $1.79/g.
• Austin- $1.85/g, down 0.4 cents per gallon from last week’s $1.85/g.