U.S. average price of gas falls for 13th straight week; analyst talks possible changes for Christmas and New Year

Published 5:44 am Monday, December 18, 2023

As the nation’s average price of gasoline has fallen for the 13th straight week, motorists are on the cusp of potentially seeing a $2.99 per gallon average for the first time in years.

Many welcome that just in time for the Christmas holiday, according to Patrick De Haan.

The head of petroleum analysis at GasBuddy said while the declines may soon come to an end as the price of oil has rebounded from recent lows, motorists could see a gentler 2024 at the pump for motorists.

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“Gasoline could see its average fall below $3 this week while the price of diesel has just fallen below $4 for the first time since July, also very welcome news for the economy as nearly all goods are impacted by the price of diesel,” De Haan said.

“All in all, the news continues to be good in terms of fuel prices as we enter into the closing innings of 2023.”

Average gasoline prices in Texas have fallen 8.5 cents per gallon in the last week, averaging $2.48/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 30.8 cents per gallon lower than a month ago and stand 9.1 cents per gallon lower than a year ago.

The national average price of diesel has fallen 9.2 cents in the last week and stands at $3.99 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $1.99/g Sunday, while the most expensive was $4.29/g, a difference of $2.30/g.

The national average price of gasoline has fallen 8.6 cents per gallon in the last week, averaging $3.03/g today.

The national average is down 26.9 cents per gallon from a month ago and stands 6.8 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 – $2.53/g, down 6.1 cents per gallon from last week’s $2.59/g.
• San Antonio – $2.40/g, down 12.6 cents per gallon from last week’s $2.53/g.
• Austin – $2.45/g, down 15.1 cents per gallon from last week’s $2.60/g.

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

December 18, 2022: $2.57/g (U.S. Average: $3.09/g)
December 18, 2021: $2.87/g (U.S. Average: $3.31/g)
December 18, 2020: $1.90/g (U.S. Average: $2.22/g)
December 18, 2019: $2.21/g (U.S. Average: $2.56/g)
December 18, 2018: $2.03/g (U.S. Average: $2.37/g)
December 18, 2017: $2.19/g (U.S. Average: $2.41/g)
December 18, 2016: $2.04/g (U.S. Average: $2.24/g)
December 18, 2015: $1.80/g (U.S. Average: $2.00/g)
December 18, 2014: $2.24/g (U.S. Average: $2.46/g)
December 18, 2013: $3.02/g (U.S. Average: $3.20/g)