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Prices holding to yearly highs. See what’s coming next for Texas, U.S.

It has been a fairly tame last few weeks at the pump for most areas after a particularly active February and March when prices were screaming higher.

Patrick De Haan, head of petroleum analysis for GasBuddy, said after surging back then, “we’ve seen the price increases fade, and while we haven’t seen much of a decline, prices have been holding near their yearly highs.”

Texas gas prices have fallen 1.4 cents per gallon in the past week, averaging $2.60/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 0.8 cents per gallon higher than a month ago and stand 97.3 cents per gallon higher than a year ago.

“For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand, but should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas is priced at $2.24/g today while the most expensive is $3.50/g, a difference of $1.26/g.

The lowest price in the state today is $2.24/g while the highest is $3.50/g, a difference of $1.26/g.

“Make no mistake, gas prices this year will be tied to the hip of the Covid situation,” De Haan said.

The national average price of gasoline has fallen 2.1 cents per gallon in the last week, averaging $2.85/g today.

The national average is down 0.5 cents per gallon from a month ago and stands $1.02/g higher than a year ago.

Neighboring areas and their current gas prices:

• Midland Odessa – $2.84/g, down 1.2 cents per gallon from last week’s $2.85/g.
• San Antonio – $2.39/g, down 5.8 cents per gallon from last week’s $2.44/g.
• Austin – $2.50/g, down 2.1 cents per gallon from last week’s $2.52/g.

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

April 12, 2020: $1.62/g (U.S. Average: $1.83/g)
April 12, 2019: $2.54/g (U.S. Average: $2.83/g)
April 12, 2018: $2.44/g (U.S. Average: $2.70/g)
April 12, 2017: $2.24/g (U.S. Average: $2.41/g)
April 12, 2016: $1.85/g (U.S. Average: $2.06/g)
April 12, 2015: $2.21/g (U.S. Average: $2.39/g)
April 12, 2014: $3.46/g (U.S. Average: $3.63/g)
April 12, 2013: $3.44/g (U.S. Average: $3.55/g)
April 12, 2012: $3.82/g (U.S. Average: $3.90/g)
April 12, 2011: $3.72/g (U.S. Average: $3.79/g)