Gas price expert talks upward trend at the pump and Texas impact
Published 7:25 am Monday, October 18, 2021
The national average closed the week by climbing to yet another fresh seven-year high, as the price of oil continues to drag gas prices along for the wild ride, leaving motorists on empty.
Patrick De Haan, head of petroleum analysis for GasBuddy, said with OPEC holding back oil production and strong global oil demand, the situation will pave the road with even higher gas prices in the weeks ahead.
Texas gas prices have risen 2.9 cents per gallon in the past week, averaging $2.95/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.
Gas prices in Texas are 13.1 cents per gallon higher than a month ago and stand $1.09/g higher than a year ago.
“Until several bottlenecks ease, including supply chains and low global inventories of oil, natural gas and coal, we’ll be stuck feeling the pinch of rising oil and gasoline prices,” De Haan said.
“The bad news is that for now, all I see is the upward trend at the pump continuing into the weeks ahead with no sign of relief just yet.”
According to GasBuddy price reports, the cheapest station in Texas is priced at $2.55/g today while the most expensive is $3.69/g, a difference of $1.14/g.
The lowest price in the state today is $2.55/g while the highest is $3.69/g, a difference of $1.14/g.
The national average price of gasoline has risen 2.9 cents per gallon in the last week, averaging $3.30/g today.
The national average is up 11.1 cents per gallon from a month ago and stands $1.15/g higher than a year ago.
Neighboring areas and their current gas prices:
• Midland Odessa – $3.02/g, down 2.2 cents per gallon from last week’s $3.04/g.
• San Antonio – $2.88/g, up 6.8 cents per gallon from last week’s $2.81/g.
• Austin – $2.89/g, up 2.8 cents per gallon from last week’s $2.86/g.
Historical gasoline prices in Texas and the national average going back ten years:
October 18, 2020: $1.86/g (U.S. Average: $2.15/g)
October 18, 2019: $2.30/g (U.S. Average: $2.66/g)
October 18, 2018: $2.63/g (U.S. Average: $2.86/g)
October 18, 2017: $2.27/g (U.S. Average: $2.44/g)
October 18, 2016: $2.03/g (U.S. Average: $2.23/g)
October 18, 2015: $2.00/g (U.S. Average: $2.26/g)
October 18, 2014: $2.93/g (U.S. Average: $3.11/g)
October 18, 2013: $3.11/g (U.S. Average: $3.35/g)
October 18, 2012: $3.49/g (U.S. Average: $3.73/g)
October 18, 2011: $3.31/g (U.S. Average: $3.46/g)