National average will fall under $2 per gallon; see how much lower Texas already is

Published 6:52 am Monday, November 2, 2020

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The drop in gas prices accelerated last week as oil prices continue to slide on uncertainty over the election.

Patrick De Haan, head of petroleum analysis for GasBuddy, said other concerns over a federal stimulus, coronavirus case counts soar and rolled back state reopening plans are impacting prices at the pump.

“In just the last few days, it feels like uncertainty over a potential legal fight over the U.S. election has also risen to near panic levels, all of which throws more uncertainty into the ring, keeping the U.S. from potentially having a clear leader to turn things around,” De Haan said.

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“For now, it’s virtually guaranteed that the national average will fall to under $2 per gallon in the next two weeks, so motorists need not be in a rush to fill their tanks.”

Texas gas prices have fallen 3.8 cents per gallon in the past week, averaging $1.80/g today, according to GasBuddy’s daily survey of 13,114 stations.

Gas prices in Texas are 6.1 cents per gallon lower than a month ago and stand 45.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.47/g today while the most expensive is $2.49/g, a difference of $1.02/g.

The lowest price in the state today is $1.47/g while the highest is $2.49/g, a difference of $1.02/g.

The national average price of gasoline has fallen 2.7 cents per gallon in the last week, averaging $2.12/g today.

The national average is down 6.1 cents per gallon from a month ago and stands 48.0 cents per gallon lower than a year ago.

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

November 2, 2019: $2.25/g (U.S. Average: $2.60/g)
November 2, 2018: $2.49/g (U.S. Average: $2.75/g)
November 2, 2017: $2.25/g (U.S. Average: $2.51/g)
November 2, 2016: $2.03/g (U.S. Average: $2.21/g)
November 2, 2015: $1.92/g (U.S. Average: $2.19/g)
November 2, 2014: $2.76/g (U.S. Average: $2.97/g)
November 2, 2013: $3.00/g (U.S. Average: $3.25/g)
November 2, 2012: $3.28/g (U.S. Average: $3.49/g)
November 2, 2011: $3.25/g (U.S. Average: $3.43/g)
November 2, 2010: $2.62/g (U.S. Average: $2.78/g)

Neighboring areas and their current gas prices:

• Midland Odessa – $1.97/g, down 0.5 cents per gallon from last week’s $1.98/g.
• San Antonio – $1.72/g, down 4.3 cents per gallon from last week’s $1.77/g.
• Austin- $1.73/g, down 6.1 cents per gallon from last week’s $1.80/g.