Gas prices dropped for Thanksgiving week; see what that means for Christmas season

Published 6:55 am Monday, November 28, 2022

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As millions of Americans hit the road for Thanksgiving, we saw gasoline prices continue dropping coast-to-coast last week, and a new record was set for the largest single-day decline in the national average.

In addition, 47 of the nation’s 50 states have seen diesel prices falling, providing well-needed relief ahead of the holidays and helping to stem the rise in inflation, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“All the metrics look very positive for motorists as this week is likely to continue seeing falling gasoline prices, with many areas falling to the lowest level since Russia’s invasion of Ukraine in February,” De Haan said.

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“It’s entirely possible the national average price of gasoline could fall under $3 per gallon by Christmas, which would be a huge gift to unwrap for motorists after a dizzying year at the pump.”

Average gasoline prices in Texas have fallen 10.2 cents per gallon in the last week, averaging $2.83/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 31.9 cents per gallon lower than a month ago and stand 11 cents per gallon lower than a year ago.

The national average price of diesel has fallen 7.9 cents in the last week and stands at $5.20 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2/g Sunday while the most expensive was $4.49/g, a difference of $2.49/g.

The national average price of gasoline has fallen 12.4 cents per gallon in the last week, averaging $3.52/g today.

The national average is down 22.7 cents per gallon from a month ago and stands 14.1 cents per gallon 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 – $3.06/g, down 7.7 cents per gallon from last week’s $3.13/g.
• San Antonio – $2.75/g, down 13.5 cents per gallon from last week’s $2.88/g.
• Austin – $2.82/g, down 12.1 cents per gallon from last week’s $2.94/g.

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

November 28, 2021: $2.94/g (U.S. Average: $3.37/g)
November 28, 2020: $1.80/g (U.S. Average: $2.11/g)
November 28, 2019: $2.24/g (U.S. Average: $2.60/g)
November 28, 2018: $2.20/g (U.S. Average: $2.50/g)
November 28, 2017: $2.26/g (U.S. Average: $2.49/g)
November 28, 2016: $1.89/g (U.S. Average: $2.13/g)
November 28, 2015: $1.82/g (U.S. Average: $2.04/g)
November 28, 2014: $2.55/g (U.S. Average: $2.78/g)
November 28, 2013: $3.13/g (U.S. Average: $3.27/g)
November 28, 2012: $3.15/g (U.S. Average: $3.41/g)