$5 national average clearly in sight; here are the details

Published 6:33 am Monday, June 6, 2022

After a blistering week of gas prices jumping in nearly every town, city, state and area, more bad news is on the horizon.

“It now appears not if, but when, we’ll hit that psychologically critical $5 national average,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

Average gasoline prices in Texas have risen 33.7 cents per gallon in the last week, averaging $4.56/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

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Prices in Texas are 61.1 cents per gallon higher than a month ago and stand $1.84/g higher than a year ago.

The price of diesel has risen 11.5 cents nationally in the past week and stands at $5.62 per gallon.

“Gasoline inventories continue to decline even with demand softening due to high prices, a culmination of less refining capacity than we had prior to COVID and strong consumption, a situation that doesn’t look to improve drastically anytime soon,” De Haan said.

“Nine states have average gas prices that stand beyond the $5 per gallon mark, with more set to join in the days and weeks ahead. In addition, diesel prices also stand at a record high, a second gut-punch to consumers which pushes prices of most goods higher.”

According to GasBuddy price reports, the cheapest station in Texas was priced at $3.99/g Sunday while the most expensive was $5.69/g, a difference of $1.70/g.

The lowest price in the state Sunday was $3.99/g while the highest was $5.69/g, a difference of $1.70/g.

The national average price of gasoline has risen 26 cents per gallon in the last week, averaging $4.85/g today.

The national average is up 56 cents per gallon from a month ago and stands $1.81/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 – $4.36/g, up 21.8 cents per gallon from last week’s $4.14/g.
• San Antonio – $4.49/g, up 32.2 cents per gallon from last week’s $4.17/g.
• Austin – $4.53/g, up 31.4 cents per gallon from last week’s $4.21/g.

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

June 6, 2021: $2.71/g (U.S. Average: $3.04/g)
June 6, 2020: $1.69/g (U.S. Average: $2.02/g)
June 6, 2019: $2.46/g (U.S. Average: $2.77/g)
June 6, 2018: $2.74/g (U.S. Average: $2.94/g)
June 6, 2017: $2.17/g (U.S. Average: $2.36/g)
June 6, 2016: $2.14/g (U.S. Average: $2.36/g)
June 6, 2015: $2.55/g (U.S. Average: $2.76/g)
June 6, 2014: $3.44/g (U.S. Average: $3.66/g)
June 6, 2013: $3.36/g (U.S. Average: $3.63/g)
June 6, 2012: $3.38/g (U.S. Average: $3.56/g)