The price at the pump has climbed so high in recent months that any relief is a welcome sight. According to GasBuddy, the average price per gallon in Austin has fallen over the past week, but likely not nearly enough to provide Central Texans with any tangible relief.
Average gasoline prices in Austin have fallen 4.6 cents per gallon in the last week, averaging $4.65/g today, according to GasBuddy’s survey of 830 stations in Austin. Prices in Austin are 35.3 cents per gallon higher than a month ago and stand $1.96/g higher than a year ago. The price of diesel has risen 2.6 cents nationally in the past week and stands at $5.80 per gallon.
“Finally some relief! For the first time in nine weeks, gasoline prices have fallen, following a broad sell-off in oil markets last week, pushing the national average back under the $5 level with most states seeing relief at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I’m hopeful the trend may continue this week, especially as concerns appear to be mounting that we may be on the cusp of an economic slowdown, putting downward pressure on oil. But the coast isn’t yet entirely clear. We could see the national average fall another 15 to 30 cents, if we’re lucky, by the time fireworks are flying, barring any unexpected shutdowns at a time when the market is extremely sensitive to such.”
The national average price of gasoline has fallen 4.2 cents per gallon in the last week, averaging $4.97/g today.
