One analyst’s prediction — “lower gas prices are on the way for every U.S. state”

Published 6:27 am Monday, October 2, 2023

Most of the nation saw a noticeable decline in gasoline prices last wee. We’re likely to experience nearly the entire country seeing gasoline prices trend lower in the week ahead, according to Patrick De Haan.

The head of petroleum analysis at GasBuddy said you could say Christmas is coming early: California should quickly see prices fall back below $6, and once all refinery snags are addressed and maintenance complete, he would not be surprised to see prices even fall below $5 there later this year.

“While the trend is likely to be a strong one to the downside, small issues here and there could temporarily delay the onset of lower prices, but for now, motorists need not be in any rush: lower gas prices are on the way for every U.S. state in the weeks ahead,” De Haan said.

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Average gasoline prices in Texas have fallen 1.5 cents per gallon in the last week, averaging $3.31/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 5.2 cents per gallon lower than a month ago and stand 26.2 cents per gallon higher than a year ago.

The national average price of diesel has fallen 0.7 cents in the last week and stands at $4.52 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.90/g Sunday while the most expensive was $4.39/g, a difference of $1.49/g.

The national average price of gasoline has fallen 3.5 cents per gallon in the last week, averaging $3.77/g today.

The national average is down 2.8 cents per gallon from a month ago and stands 1 cent 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 – $3.36/g, down 4.9 cents per gallon from last week’s $3.41/g.
• San Antonio – $3.22/g, down 12.2 cents per gallon from last week’s $3.35/g.
• Austin – $3.30/g, down 10.6 cents per gallon from last week’s $3.41/g.

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

October 2, 2022: $3.05/g (U.S. Average: $3.78/g)
October 2, 2021: $2.83/g (U.S. Average: $3.19/g)
October 2, 2020: $1.86/g (U.S. Average: $2.18/g)
October 2, 2019: $2.34/g (U.S. Average: $2.67/g)
October 2, 2018: $2.65/g (U.S. Average: $2.90/g)
October 2, 2017: $2.40/g (U.S. Average: $2.53/g)
October 2, 2016: $1.97/g (U.S. Average: $2.22/g)
October 2, 2015: $2.05/g (U.S. Average: $2.29/g)
October 2, 2014: $3.16/g (U.S. Average: $3.32/g)
October 2, 2013: $3.14/g (U.S. Average: $3.37/g)