See how Thanksgiving driving projections are impacting gas prices
With Thanksgiving nearly upon us and fewer Americans hitting the road, gas prices have seen some downward movement over the last week, even as oil prices hold near recent highs.
Patrick De Haan, head of petroleum analysis for GasBuddy, said we may end up seeing the lowest Thanksgiving prices in five years if prices continue to trend lower this week, a sign of how the coronavirus has sapped demand for the majority of the year.
Texas gas prices have fallen 1.1 cents per gallon in the past week, averaging $1.78/g today, according to GasBuddy’s daily survey of 13,114 stations.
Gas prices in Texas are 6.4 cents per gallon lower than a month ago and stand 46.1 cents per gallon lower than a year ago.
“Between now and the end of the year, we aren’t likely to see many fireworks at the pump as demand continues to remain well below prior years, but as a vaccine is set to be released in the months ahead, prices will likely aim for higher ground, so motorists take heed that today’s prices may not hold for much longer,” 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 fallen 1.5 cents per gallon in the last week, averaging $2.10/g today.
The national average is down 5.0 cents per gallon from a month ago and stands 49.6 cents per gallon lower than a year ago.
Historical gasoline prices in Texas and the national average going back ten years:
November 23, 2019: $2.24/g (U.S. Average: $2.59/g)
November 23, 2018: $2.26/g (U.S. Average: $2.55/g)
November 23, 2017: $2.27/g (U.S. Average: $2.51/g)
November 23, 2016: $1.90/g (U.S. Average: $2.12/g)
November 23, 2015: $1.85/g (U.S. Average: $2.06/g)
November 23, 2014: $2.59/g (U.S. Average: $2.81/g)
November 23, 2013: $3.08/g (U.S. Average: $3.25/g)
November 23, 2012: $3.15/g (U.S. Average: $3.43/g)
November 23, 2011: $3.14/g (U.S. Average: $3.32/g)
November 23, 2010: $2.68/g (U.S. Average: $2.85/g)
Neighboring areas and their current gas prices:
• Midland Odessa – $1.93/g, down 7.6 cents per gallon from last week’s $2.00/g.
• San Antonio – $1.65/g, down 4.8 cents per gallon from last week’s $1.70/g.
• Austin – $1.68/g, down 2.1 cents per gallon from last week’s $1.70/g.
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