Average Texas gas prices rise 11.4 cents per gallon in last week; analyst talks about what’s next

Published 6:43 am Monday, March 4, 2024

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A majority of the nation’s 50 states have seen gasoline prices rise, with the national average posting a gain for the second straight week.

The trend that is hardly surprising for this time of year and will likely continue as the entire nation has made the first step toward summer gasoline, according to Patrick De Haan.

The head of petroleum analysis at GasBuddy said the pinch at the pump has been manageable for now, with prices approxaimtely 30 cents higher than mid-January.

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“That will likely change as we enter the madness we tend to see in March with refinery maintenance hitting its peak, impacting how much gasoline can be produced as we make the changeover to the summer blends,” De Haan said.

“This always crimps supply, leading to further gas price increases.”

Average gasoline prices in Texas have risen 11.4 cents per gallon in the last week, averaging $2.91/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 8.5 cents per gallon higher than a month ago and stand 2.6 cents per gallon lower than a year ago.

The national average price of diesel has fallen 2.7 cents in the last week and stands at $4.03 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.00/g Sunday while the most expensive was $3.90/g, a difference of $1.90/g.

The national average price of gasoline has risen 10 cents per gallon in the last week, averaging $3.34/g today.

The national average is up 22 cents per gallon from a month ago and stands 3.2 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 – $2.88/g, up 0.6 cents per gallon from last week’s $2.87/g.
• San Antonio – $2.87/g, up 14.0 cents per gallon from last week’s $2.73/g.
• Austin – $2.92/g, up 14.7 cents per gallon from last week’s $2.77/g.

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

March 4, 2023: $2.93/g (U.S. Average: $3.37/g)
March 4, 2022: $3.56/g (U.S. Average: $3.92/g)
March 4, 2021: $2.47/g (U.S. Average: $2.75/g)
March 4, 2020: $2.11/g (U.S. Average: $2.41/g)
March 4, 2019: $2.19/g (U.S. Average: $2.43/g)
March 4, 2018: $2.28/g (U.S. Average: $2.52/g)
March 4, 2017: $2.10/g (U.S. Average: $2.31/g)
March 4, 2016: $1.60/g (U.S. Average: $1.81/g)
March 4, 2015: $2.24/g (U.S. Average: $2.45/g)
March 4, 2014: $3.20/g (U.S. Average: $3.46/g)