Gas prices may continue to drop; yet analyst warns of potential increases
Published 6:48 am Monday, March 28, 2022
The decline we’ve seen in average gas prices has been slowing down, as oil prices have held above $100 after declining under that level as recently as a few weeks ago.
For the near future, motorists will see a mix of slight decreases and some potential increases mixed in.
“California markets should finally cool off and areas could even move lower in Southern California, while the Great Lakes could see gas prices jump up after having fallen for the last week or so,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Average gasoline prices in Texas have fallen 6.2 cents per gallon in the last week, averaging $3.84/g today, according to GasBuddy’s survey of 13,114 stations in Texas.
Prices in Texas are 56.6 cents per gallon higher than a month ago and stand $1.22/g higher than a year ago.
“While the national average should start to stabilize for the time being, there’s no telling what’s around the corner, at least for now, as the volatility in oil prices persists,” De Haan said.
According to GasBuddy price reports, the cheapest station in Texas was priced at $3.19/g yesterday while the most expensive was $4.99/g, a difference of $1.80/g.
The lowest price in the state yesterday was $3.19/g while the highest was $4.99/g, a difference of $1.80/g.
The national average price of gasoline is unchanged in the last week, averaging $4.23/g today.
The national average is up 62.4 cents per gallon from a month ago and stands $1.38/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 – $3.94/g, down 7.5 cents per gallon from last week’s $4.02/g.
• San Antonio – $3.78/g, down 8.0 cents per gallon from last week’s $3.86/g.
• Austin – $3.85/g, down 5.6 cents per gallon from last week’s $3.91/g.
Historical gasoline prices in Texas and the national average going back ten years:
March 28, 2021: $2.62/g (U.S. Average: $2.84/g)
March 28, 2020: $1.76/g (U.S. Average: $1.98/g)
March 28, 2019: $2.46/g (U.S. Average: $2.70/g)
March 28, 2018: $2.41/g (U.S. Average: $2.64/g)
March 28, 2017: $2.10/g (U.S. Average: $2.29/g)
March 28, 2016: $1.87/g (U.S. Average: $2.04/g)
March 28, 2015: $2.21/g (U.S. Average: $2.43/g)
March 28, 2014: $3.36/g (U.S. Average: $3.53/g)
March 28, 2013: $3.52/g (U.S. Average: $3.64/g)
March 28, 2012: $3.81/g (U.S. Average: $3.92/g)