Amid record high gas prices, the past week has given a slight bit of relief to drivers in Austin as the average price per gallon across the city has fallen 19.4 cents, averaging $4.21 today, according to GasBuddy’s survey of 830 stations in Austin. Prices in Austin are 47.7 cents per gallon lower than a month ago yet still stand $1.45 per gallon higher than a year ago.
The national average price of diesel has declined 8.5 cents in the last week and stands at $5.65 per gallon.
According to GasBuddy price reports, the cheapest station in Austin was priced at $3.87 on Sunday while the most expensive was $5.09. The lowest price in the state Sunday was $3.52.
“The national average has declined for 27 days straight, or four weeks, the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We may see the trend last a fifth week, as long as oil prices remain cooperative and don’t surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong. But we’re not completely out of the woods yet – we could also see a sharp reversal in the decline. There remains risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue.”
The national average price of gasoline has fallen 12.8 cents per gallon in the last week, averaging $4.66 today.
