“We’re likely close to a top in prices.” Analyst talks gas prices for Texas, nation.

Published 8:04 am Monday, April 1, 2024

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The national average price of gasoline has finally slowed a bit after four weeks of notable increases, stalling in the mid-$3.50s for the last week or two, while the average for diesel fell back below $4 per gallon.

Patrick De Haan, head of petroleum analysis at GasBuddy, said motorists have a bit of a reprieve from the constant big weekly price jumps.

“While we seem to be nearing a short-term peak, one word of caution for those in the Mid-Atlantic and Northeast: you haven’t yet finished the transition to summer gasoline, so you may experience some sticker shock in a few weeks,” he said.

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“Be prepared for somewhat of a punch. For the rest of the nation, so long as we don’t see extenuating circumstances, we’re likely close to a top in prices. Let’s hope it pans out and sticks!”

Average gasoline prices in Texas have fallen 5.3 cents per gallon in the last week, averaging $3.09/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 16.4 cents per gallon higher than a month ago and stand 5.6 cents per gallon lower than a year ago.

The national average price of diesel has declined 2.9 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 $2.49/g Sunday while the most expensive was $3.99/g, a difference of $1.50/g.

The national average price of gasoline is unchanged in the last week, averaging $3.51/g today.

The national average is up 16.1 cents per gallon from a month ago and stands 0.9 cents per gallon higher 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 – $3.22/g, up 7.4 cents per gallon from last week’s $3.15/g.
• San Antonio – $2.92/g, down 15.1 cents per gallon from last week’s $3.07/g.
• Austin – $2.99/g, down 12.4 cents per gallon from last week’s $3.11/g.

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

April 1, 2023: $3.15/g (U.S. Average: $3.50/g)
April 1, 2022: $3.80/g (U.S. Average: $4.20/g)
April 1, 2021: $2.62/g (U.S. Average: $2.87/g)
April 1, 2020: $1.71/g (U.S. Average: $1.94/g)
April 1, 2019: $2.46/g (U.S. Average: $2.69/g)
April 1, 2018: $2.41/g (U.S. Average: $2.65/g)
April 1, 2017: $2.13/g (U.S. Average: $2.33/g)
April 1, 2016: $1.89/g (U.S. Average: $2.06/g)
April 1, 2015: $2.21/g (U.S. Average: $2.41/g)
April 1, 2014: $3.36/g (U.S. Average: $3.55/g)