(KLBJ staff)
Austin gas prices have fallen 1.3 cents per gallon in the past week, averaging $2.20/g today, according to GasBuddy’s daily survey of 830 stations. Gas prices in Austin are 10.3 cents per gallon lower than a month ago, yet stand 24.5 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Austin is priced at $1.97/g today while the most expensive is $2.69/g, a difference of 72.0 cents per gallon. The lowest price in the state today is $1.95/g while the highest is $3.19/g, a difference of $1.24/g. The cheapest price in the entire country today stands at $1.91/g while the most expensive is $5.49/g, a difference of $3.58/g.
The national average price of gasoline has fallen 0.4 cents per gallon in the last week, averaging $2.60/g today. The national average is down 6.9 cents per gallon from a month ago, yet stands 13.8 cents per gallon lower than a year ago.
Historical gasoline prices in Austin and the national average going back a decade:
November 4, 2018: $2.45/g (U.S. Average: $2.73/g) November 4, 2017: $2.21/g (U.S. Average: $2.52/g) November 4, 2016: $1.99/g (U.S. Average: $2.22/g) November 4, 2015: $1.98/g (U.S. Average: $2.20/g) November 4, 2014: $2.76/g (U.S. Average: $2.96/g) November 4, 2013: $3.01/g (U.S. Average: $3.22/g) November 4, 2012: $3.30/g (U.S. Average: $3.47/g) November 4, 2011: $3.23/g (U.S. Average: $3.41/g) November 4, 2010: $2.62/g (U.S. Average: $2.79/g) November 4, 2009: $2.55/g (U.S. Average: $2.67/g)
“While the national average gas price didn’t show much of a significant trend either way, oil prices did jump last week on the solid jobs report and on news of a growing consensus that the U.S. and China have agreed to some form of a trade deal,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “With such strong economic data, the picture is painted that we could see improving demand for oil and thus prices rising last week. While it may not be immediately noticed at the pump as gasoline demand continues to be weak in the off-season, it certainly could lead to a more noticeable impact next summer should nothing change until then. Ahead of Thanksgiving, last week’s oil jump may derail falling gas prices, though we still may see prices drift lower, the good economic news means prices will not drop as much as they could have otherwise.”
