See how promising vaccine news impacts Texas, U.S. gas prices & Thanksgiving forecast

Published 6:36 am Monday, November 16, 2020

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For the first time in seven weeks, GasBuddy data showed average gas prices rose last week, unsurprising given the previous 18% jump in the price of crude oil on promising vaccine news.

Patrick De Haan, head of petroleum analysis for GasBuddy, said this year has been anything but normal and such news of promising vaccine results would likely rekindle gas prices for a short while.

“We’re likely to see prices inch up slightly again this week as gas stations continue to try to pass along the rise from last week to retail, but ahead of Thanksgiving, prices should be mostly stable,” De Haan said.

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Texas gas prices have risen 3.1 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 5.8 cents per gallon lower than a month ago and stand 43.2 cents per gallon lower than a year ago.

“For now, motorists shouldn’t expect too many fireworks at the pump, but the upcoming release of GasBuddy’s Holiday Travel survey highlights some big changes motorists are making for the last six weeks of the year,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.44/g today while the most expensive is $2.69/g, a difference of $1.25/g.

The lowest price in the state today is $1.44/g while the highest is $2.69/g, a difference of $1.25/g.

The national average price of gasoline has risen 1.2 cents per gallon in the last week, averaging $2.12/g today.

The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

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

November 16, 2019: $2.23/g (U.S. Average: $2.61/g)
November 16, 2018: $2.36/g (U.S. Average: $2.63/g)
November 16, 2017: $2.29/g (U.S. Average: $2.56/g)
November 16, 2016: $1.94/g (U.S. Average: $2.15/g)
November 16, 2015: $1.92/g (U.S. Average: $2.15/g)
November 16, 2014: $2.68/g (U.S. Average: $2.88/g)
November 16, 2013: $2.95/g (U.S. Average: $3.19/g)
November 16, 2012: $3.16/g (U.S. Average: $3.42/g)
November 16, 2011: $3.22/g (U.S. Average: $3.39/g)
November 16, 2010: $2.71/g (U.S. Average: $2.87/g)

Neighboring areas and their current gas prices:

• Midland Odessa – $2.01/g, up 9.9 cents per gallon from last week’s $1.91/g.
• San Antonio – $1.70/g, up 2.3 cents per gallon from last week’s $1.68/g.
• Austin – $1.71/g, up 1.6 cents per gallon from last week’s $1.69/g.