GAS PRICES

Gas prices continue to drop

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Gasoline prices in Austin have fallen 4.7 cents per gallon in the past week, averaging $2.10/g yesterday, according to GasBuddy's daily survey of 830 stations in Austin. This compares with the national average that has fallen 2.7 cents per gallon versus last week to $2.41/g, according to GasBuddy.

Average gasoline prices on December 10 in Austin have ranged widely over the last five years:

$2.17/g in 2017, $1.98/g in 2016, $1.82/g in 2015, $2.43/g in 2014 and $3.10/g in 2013.

Including the change locally during the past week, prices yesterday were 6.7 cents per gallon lower than a year ago and are 28.8 cents per gallon lower than a month ago. The national average has dropped 28.0 cents per gallon during the last month and stands 3.8 cents per gallon lower than a year ago.

"Average gas prices have continued to move lower in most states in the last week as retail prices continue to catch up to the low price of oil," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

Areas near Austin and their current gas price climate:

San Antonio- $1.99/g, down 4.1 cents per gallon from last week's $2.03/g.

Waco- $2.01/g, down 3.4 cents per gallon from last week's $2.04/g.

College Station- $2.06/g, down 1.1 cents per gallon from last week's $2.08/g.

DeHaan noted that prices in 27 states started the week at $2 per gallon or less.

"While the going has been good at most gas pumps, OPEC countries did agree to curb oil production, but the cut was smaller than we had expected, and for a shorter duration than anticipated, resulting in a small upward move in oil, one that may not immediately curb the declines. We appear poised to see the national average drop perhaps at least one more week — and we could close this week with the nation's average in the $2.30s — the lowest in over a year."

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