Analyst talks gas prices as Southeast Texas motorists head toward Memorial Day

Published 6:18 am Monday, May 22, 2023

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In the run up to Memorial Day, the national average price of gas has seen little overall movement over the last week.

“We’ve seen more states see prices climb than fall, which has been driven by oil’s volatility as debt ceiling discussions are ongoing,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I think we’ll see prices rise slightly as we get closer to Memorial Day, especially if there are positive developments in the debt ceiling discussions in D.C., while pessimism could drive prices slightly lower.”

Average gasoline prices in Texas have fallen 3.6 cents per gallon in the last week, averaging $3.03/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

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Prices in Texas are 24.7 cents per gallon lower than a month ago and stand 124 cents per gallon lower than a year ago.

The national average price of diesel has fallen 3.2 cents in the last week and stands at $3.94 per gallon.

“I continue to be optimistic that the national average will remain under $4 per gallon for most of, if not the entire summer, with Americans spending a combined $1.6 billion less on gasoline over Memorial Day weekend this year compared to last,” De Haan said.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.45/g yesterday while the most expensive was $4.17/g, a difference of $1.72/g.

The national average price of gasoline is unchanged  in the last week, averaging $3.51/g today.

The national average is down 14.7 cents per gallon from a month ago and stands 106.5 cents per gallon lower 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 – $3.03/g, down 4.3 cents per gallon from last week’s $3.08/g.
• San Antonio – $2.97/g, down 7.8 cents per gallon from last week’s $3.05/g.
• Austin – $3.05/g, down 4.1 cents per gallon from last week’s $3.09/g.

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

May 22, 2022: $4.27/g (U.S. Average: $4.57/g)
May 22, 2021: $2.75/g (U.S. Average: $3.03/g)
May 22, 2020: $1.61/g (U.S. Average: $1.95/g)
May 22, 2019: $2.55/g (U.S. Average: $2.85/g)
May 22, 2018: $2.72/g (U.S. Average: $2.95/g)
May 22, 2017: $2.16/g (U.S. Average: $2.35/g)
May 22, 2016: $2.06/g (U.S. Average: $2.28/g)
May 22, 2015: $2.51/g (U.S. Average: $2.74/g)
May 22, 2014: $3.44/g (U.S. Average: $3.65/g)
May 22, 2013: $3.43/g (U.S. Average: $3.66/g)