Gas prices jump with wide range across Texas; see the breakdown

Published 6:15 am Monday, May 9, 2022

Gasoline and diesel prices saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil.

“In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

That was certainly felt in the Golden Triangle and Texas in general.

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Average gasoline prices in Texas have risen 12.4 cents per gallon in the last week, averaging $3.97/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 28.4 cents per gallon higher than a month ago and stand $1.30/g higher than a year ago.

The price of diesel has risen 22.6 cents nationally in the past week and stands at $5.518 per gallon.

“Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium,” De Haan said.

“While motorists filling with gasoline have seen a slight rise in prices, diesel’s surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods.”

According to GasBuddy price reports, the cheapest station in Texas was priced at $3.29/g on Mothers Day, while the most expensive was $5.29/g, a difference of $2/g.

The national average price of gasoline has risen 13.6 cents per gallon in the last week, averaging $4.31/g today.

The national average is up 19.6 cents per gallon from a month ago and stands $1.36/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- $3.97/g, up 5.2 cents per gallon from last week’s $3.92/g.
• San Antonio- $3.92/g, up 21.0 cents per gallon from last week’s $3.71/g.
• Austin- $3.98/g, up 17.0 cents per gallon from last week’s $3.81/g.

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

May 9, 2021: $2.67/g (U.S. Average: $2.95/g)
May 9, 2020: $1.52/g (U.S. Average: $1.84/g)
May 9, 2019: $2.58/g (U.S. Average: $2.87/g)
May 9, 2018: $2.60/g (U.S. Average: $2.84/g)
May 9, 2017: $2.17/g (U.S. Average: $2.33/g)
May 9, 2016: $1.98/g (U.S. Average: $2.21/g)
May 9, 2015: $2.45/g (U.S. Average: $2.66/g)
May 9, 2014: $3.43/g (U.S. Average: $3.67/g)
May 9, 2013: $3.38/g (U.S. Average: $3.55/g)
May 9, 2012: $3.62/g (U.S. Average: $3.74/g)