Gas prices jump; national analyst talks impact at grocery store, hardware store and airport

Published 6:34 am Monday, May 2, 2022

Gasoline prices have continued their rally in the last week, with oil prices sustaining higher levels, Patrick De Haan said.

The head of petroleum analysis at GasBuddy feels the real story has been diesel fuel, which skyrocketed to its highest level ever seen.

“Diesel is now $1 per gallon or more in many areas compared to gasoline,” De Haan said.

Subscribe to our free email newsletter

Get the latest news sent to your inbox

Average gasoline prices in Texas have risen 9.2 cents per gallon in the last week, averaging $3.85/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 7.3 cents per gallon higher than a month ago and stand $1.25/g higher than a year ago.

“The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.99/g Sunday, while the most expensive was $4.99/g, a difference of $2.00/g.

The lowest price in the state Sunday was $2.99/g while the highest was $4.99/g, a difference of $2.00/g.

“For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy,” De Haan said.

The national average price of gasoline has risen 6.9 cents per gallon in the last week, averaging $4.17/g today.

The national average is down 1 cent 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 – $3.92/g, up 18.3 cents per gallon from last week’s $3.73/g.
• San Antonio – $3.71/g, up 2.7 cents per gallon from last week’s $3.68/g.
• Austin – $3.81/g, up 7.7 cents per gallon from last week’s $3.73/g.

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

May 2, 2021: $2.60/g (U.S. Average: $2.89/g)
May 2, 2020: $1.51/g (U.S. Average: $1.76/g)
May 2, 2019: $2.59/g (U.S. Average: $2.90/g)
May 2, 2018: $2.57/g (U.S. Average: $2.82/g)
May 2, 2017: $2.21/g (U.S. Average: $2.37/g)
May 2, 2016: $1.97/g (U.S. Average: $2.22/g)
May 2, 2015: $2.39/g (U.S. Average: $2.61/g)
May 2, 2014: $3.47/g (U.S. Average: $3.68/g)
May 2, 2013: $3.34/g (U.S. Average: $3.53/g)
May 2, 2012: $3.68/g (U.S. Average: $3.80/g)