Could the national average this fall go under $3 per gallon?
Published 12:02 am Monday, July 3, 2023
Just ahead of Independence Day, the national average price of gas has fallen to its lowest level since late April, with oil prices remaining under considerable pressure due to a cloudy outlook for the global economy.
“We could see gasoline prices under some additional pressure soon, especially as we head into the closing innings of summer next month,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“For now, gasoline demand will likely ramp up as we enter the peak of the summer, with millions of Americans set to take to the roads with some of the season’s lowest average gasoline prices. At the half point of the year, the national average is right at level we anticipated for a full year average.”
While that’s good news, De Haan said he believes motorists may see prices close out the second half of the year below expectations, “which would be welcome news for motorists, and the possibility exists that the national average this fall could fall under $3 per gallon.”
Average gasoline prices in Texas have fallen 8.7 cents per gallon in the last week, averaging $3.12/g today, according to GasBuddy’s survey of 13,114 stations in Texas.
Prices in Texas are 7.1 cents per gallon higher than a month ago and stand 125.7 cents per gallon lower than a year ago.
The national average price of diesel has fallen 3.4 cents in the last week and stands at $3.80 per gallon.
According to GasBuddy price reports, the cheapest station in Texas was priced at $2.56/g yesterday while the most expensive was $4.17/g, a difference of $1.61/g.
The lowest price in the state yesterday was $2.56/g while the highest was $4.17/g, a difference of $1.61/g.
The national average price of gasoline has fallen 4.1 cents per gallon in the last week, averaging $3.50/g today.
The national average is down 1.9 cents per gallon from a month ago and stands 129.3 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 – $2.97/g, down 0.7 cents per gallon from last week’s $2.98/g.
San Antonio – $3.05/g, down 15.0 cents per gallon from last week’s $3.20/g.
Austin – $3.11/g, down 9.1 cents per gallon from last week’s $3.20/g.
Historical gasoline prices in Texas and the national average going back ten years:
July 3, 2022: $4.37/g (U.S. Average: $4.79/g)
July 3, 2021: $2.81/g (U.S. Average: $3.12/g)
July 3, 2020: $1.88/g (U.S. Average: $2.17/g)
July 3, 2019: $2.45/g (U.S. Average: $2.76/g)
July 3, 2018: $2.65/g (U.S. Average: $2.87/g)
July 3, 2017: $2.03/g (U.S. Average: $2.22/g)
July 3, 2016: $2.09/g (U.S. Average: $2.27/g)
July 3, 2015: $2.56/g (U.S. Average: $2.77/g)
July 3, 2014: $3.49/g (U.S. Average: $3.67/g)
July 3, 2013: $3.33/g (U.S. Average: $3.47/g)