National gas average could hit $4.50/gal; see where Texas stands

Published 7:06 am Monday, March 7, 2022

Patrick De Haan had “few words” to describe the unprecedented rise in gasoline prices over the last week.

There are massive spikes coast-to-coast in gasoline and diesel prices, as oil prices jump to their highest since 2008.

“Forget the $4 per gallon mark, the nation will soon set new all-time record highs, and we could push closer to a national average of $4.50/gal,” said De Haan, head of petroleum analysis at GasBuddy. “California could be heading for $5.50 per gallon with more stations charging $6 and beyond.”

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Average gasoline prices in Texas have risen 44.6 cents per gallon in the last week, averaging $3.71/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 61.4 cents per gallon higher than a month ago and stand $1.21/g higher than a year ago.

“We’ve never been in this situation before, with this level of uncertainty,” De Haan said. “As we lose a major global producer under the weight of deserving bipartisan sanctions for invading a sovereign country, the cost is high. Americans will be feeling the pain of the rise in prices for quite some time, with little good news foreseen.”

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.69/g Sunday, while the most expensive was $4.75/g, a difference of $2.06/g.

The lowest price in the state Sunday was $2.69/g, while the highest was $4.75/g, a difference of $2.06/g.

The national average price of gasoline has risen 46.5 cents per gallon in the last week, averaging $4.06/g today.

The national average is up 61.1 cents per gallon from a month ago and stands $1.29/g higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices:

• Midland Odessa – $3.75/g, up 47.1 cents per gallon from last week’s $3.28/g.
• San Antonio – $3.61/g, up 34.9 cents per gallon from last week’s $3.26/g.
• Austin – $3.69/g, up 43.2 cents per gallon from last week’s $3.26/g.

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

March 7, 2021: $2.50/g (U.S. Average: $2.77/g)
March 7, 2020: $2.08/g (U.S. Average: $2.37/g)
March 7, 2019: $2.20/g (U.S. Average: $2.46/g)
March 7, 2018: $2.29/g (U.S. Average: $2.53/g)
March 7, 2017: $2.10/g (U.S. Average: $2.30/g)
March 7, 2016: $1.59/g (U.S. Average: $1.81/g)
March 7, 2015: $2.24/g (U.S. Average: $2.46/g)
March 7, 2014: $3.23/g (U.S. Average: $3.49/g)
March 7, 2013: $3.57/g (U.S. Average: $3.72/g)
March 7, 2012: $3.59/g (U.S. Average: $3.76/g)