Gulf Coast currently offers some of nation’s lowest gas prices; see what’s expected in 2024

Published 6:51 am Tuesday, January 2, 2024

After a brief hiatus, the national average price of gas has moved off its recent high, again falling closer to the $3 per gallon mark, setting up a potential second attempt at slipping below $2.99 for the first time since 2021.

Patrick De Haan said while gas prices have risen in some areas, other states have returned to declines.

“The Great Lakes and Gulf Coast offer some of the nation’s lowest gas prices, with the window of opportunity holding for the next few weeks to potentially re-test some of the levels seen a few weeks ago,” the head of petroleum analysis at GasBuddy said.

Subscribe to our free email newsletter

Get the latest news sent to your inbox

“The good news continues for average diesel prices, which slipped below $4 per gallon again and stand at their lowest level since the summer.”

Average gasoline prices in Texas have fallen 1.7 cents per gallon in the last week, averaging $2.63/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 8.4 cents per gallon lower than a month ago and stand 20.6 cents per gallon lower than a year ago.

The national average price of diesel has fallen 4.5 cents in the last week and stands at $3.96 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.23/g Monday while the most expensive was $3.99/g, a difference of $1.76/g.

The national average price of gasoline has fallen 1.6 cents per gallon in the last week, averaging $3.06/g today.

The national average is down 17.3 cents per gallon from a month ago and stands 12.6 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 – $2.83/g, down 1.8 cents per gallon from last week’s $2.85/g.
• San Antonio – $2.69/g, up 13.7 cents per gallon from last week’s $2.55/g.
• Austin – $2.70/g, up 7.5 cents per gallon from last week’s $2.62/g.

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

January 2, 2023: $2.83/g (U.S. Average: $3.18/g)
January 2, 2022: $2.88/g (U.S. Average: $3.26/g)
January 2, 2021: $1.93/g (U.S. Average: $2.25/g)
January 2, 2020: $2.27/g (U.S. Average: $2.59/g)
January 2, 2019: $1.94/g (U.S. Average: $2.25/g)
January 2, 2018: $2.25/g (U.S. Average: $2.49/g)
January 2, 2017: $2.13/g (U.S. Average: $2.34/g)
January 2, 2016: $1.74/g (U.S. Average: $1.99/g)
January 2, 2015: $1.99/g (U.S. Average: $2.21/g)
January 2, 2014: $3.13/g (U.S. Average: $3.32/g)