GAS PRICES

Gas prices take another slight dip

Posted

Gas prices across the Austin area fell another 1.8 cents per gallon in the past week, averaging $2.47/g on Monday, according to GasBuddy's daily survey of 830 stations. Prices 0.4 cents per gallon lower than a month ago but 21.7 cents per gallon lower than a year ago.

"The national average price of gasoline has continued its slow retreat in a majority of states in the last week," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With a trade deal with China seemingly more and more unlikely, we may continue to see weakness in oil and gasoline prices." 

According to GasBuddy price reports, the cheapest station in Austin was priced at $2.23/g on Monday while the most expensive was $2.89/g, a difference of 66.0 cents per gallon. The lowest price in the state was is $2.19/g and the highest was $3.49/g — a difference of $1.30/g. 

The national average price of gasoline dropped 2.1 cents per gallon in the last week, averaging $2.84/g on Monday. 

"Of course the trade tensions are not the only issue we're monitoring for now, but we continue to believe that additional slow relief will trickle to pumps in the next week as more refiners get back into the game and boost production," DeHaan said. "California, the nation's priciest state for gasoline, will likely see average prices fall back under the $4 per gallon mark for the first time in a month, joined by major areas across the state. I expect the bulk of states to see lower gas prices continue just in time for Memorial Day while some, inevitably, will see increases."

Comments