Austin gas prices have fallen 0.9 cents per gallon over the past week, averaging $2.73/g today, according to GasBuddy’s daily survey of 830 stations in Austin. Gas prices in Austin are 9.1 cents per gallon lower than a month ago and stand 89.1 cents per gallon higher than a year ago.
“As expected, Hurricane Ida’s disruption to the oil and refining industry led gas prices to rise over the last week, though thankfully, the rise wasn’t very significant,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With several Louisiana refineries poised to have power restored in the days ahead, the impact on gas prices could soon reverse, and with gasoline demand now likely to decline with the close of the summer driving season, I see the odds rising that gas prices will soon begin a seasonal downturn, accelerated by the expiration of summer gasoline requirements on September 15. By Halloween, we could see the national average back under $3 per gallon.”
