Gasoline demands falls slightly

SOURCE GasBuddy

Texas gas prices have fallen 2.2 cents per gallon in the past week, averaging $1.84/g today, according to Gas-Buddy’s daily survey of 13,114 stations. Gas prices in Texas are 5.3 cents per gallon lower than a month ago and stand 55.6 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.48/g today while the most expensive is $2.69/g, a difference of $1.21/g. The lowest price in the state today is $1.48/g while the highest is $2.69/g, a difference of $1.21/g.

The national average price of gasoline has fallen 1.1 cents per gallon in the last week, averaging $2.16/g today. The national average is down 3.5 cents per gallon from a month ago and stands 47.7 cents per gallon lower than a year ago.

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

August 10, 2019: $2.39/g (U.S. Average: $2.64/g)

August 10, 2018: $2.63/g (U.S. Average: $2.86/g)

August 10, 2017: $2.16/g (U.S. Average: $2.35/g)

August 10, 2016: $1.96/g (U.S. Average: $2.13/g)

August 10, 2015: $2.38/g (U.S. Average: $2.59/g)

August 10, 2014: $3.29/g (U.S. Average: $3.48/g)

August 10, 2013: $3.41/g (U.S. Average: $3.55/g)

August 10, 2012: $3.49/g (U.S. Average: $3.67/g)

August 10, 2011: $3.54/g (U.S. Average: $3.62/g)

August 10, 2010: $2.63/g (U.S. Average: $2.76/g)

Neighboring areas and their current gas prices:

Midland Odessa-$1.98/g, down 2.1 cents per gallon from last week’s $2.00/g.

San Antonio-$1.69/g, down 3.7 cents per gallon from last week’s $1.73/g.

Austin-$1.80/g, down 2.7 cents per gallon from last week’s $1.83/g.

“Gas prices have remained in very familiar territory for the sixth straight week as gasoline demand fell slightly last week, keeping oil prices confined as forces prevent it from falling under $39 but also from breaching $42 per barrel. However, as summer begins to fade, demand recovery may be limited, and there’s a possibility we may see more downside potential in the last quarter of the year,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Traditionally, gasoline demand weakens into the autumn, and as the coronavirus situation keeps more kids home and more parents from work, we may see a drop in gas prices as we progress through fall. However, since no one can predict when we may rebound from the coronavirus situation, nothing long-term is set in stone, but we are on track for a seventh straight week of stable gas prices.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA’s once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, Gas-Buddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.Gas-Buddy.com.