GAS PRICES

Local gas prices hold steady

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Gas prices nationally and across the Austin area held firm over the past week, with an average of $2.48/g on Monday, according to GasBuddy's daily survey of 830 stations in the Austin metro area.

Local prices were 16.5 cents per gallon higher than a month ago, but only 1 cent per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Austin was priced at $2.25/g Monday while the most expensive was $2.79/g, a difference of 54.0 cents per gallon. The lowest price in the state Monday was $2.29/g while the highest was $3.49/g, a difference of $1.20/g.

Prices in San Antonio held firm at $2.43/g, while prices in College Station were up a half a cent per gallon. Waco saw a 2.7 cent per gallon increase over last week. 

The national average price of gasoline was unchanged  in the last week, averaging $2.84/g — up 22.3 cents per gallon from a month ago, but just 8.7 cents per gallon higher than a year ago.

The cheapest price in the entire country stood at $2.10/g on Monday while the most expensive was $5.19/g, a difference of $3.09/g. 

"Gas prices continue to drift higher, although the pace has slowed somewhat in the last week, but that may end soon as rumors point to an end to U.S. issued waivers that allowed countries to continue buying oil from Iran that may be announced as soon as tomorrow," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

"Such a loss of oil in the current environment of OPEC cuts and rising demand would only serve to cause gas prices to continue advancing, something that has repeatedly drawn the scorn of President Trump, but with such a policy change and waivers perhaps ending, it could directly cause another round of gas price increases just as the national average reaches its highest level in months and points to a more painful summer at the pump. With such a policy move, if OPEC fails to increase output to offset the likely drop from an end to Iran waivers, expect oil prices to continue to surge. This will cost Americans billions if the Administration enforces the end to waivers," said DeHaan.

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