GAS PRICES

Gas prices fall for tenth straight week

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Gasoline prices in Austin have fallen 3.5 cents per gallon in the past week, averaging $2.06/g over the weekend, according to GasBuddy's daily survey of 830 stations in Austin. This compares with the national average that has fallen 5.7 cents per gallon versus last week to $2.36/g, according to GasBuddy.

"For the tenth straight week, gas prices have been in a state of decline, falling to the lowest level since prior to Hurricane Harvey in 2017," said Patrick DeHaan, head of petroleum analysis for GasBuddy, noting that 31 states report some locations with gas prices under $2 per gallon. 

Average gasoline prices on December 17 in Austin have ranged widely over the last five years:

$2.13/g in 2017, $2.00/g in 2016, $1.81/g in 2015, $2.31/g in 2014 and $3.06/g in 2013.

Including the change locally during the past week, prices yesterday were 7.2 cents per gallon lower than a year ago and are 27.2 cents per gallon lower than a month ago. The national average has dropped 26.1 cents per gallon during the last month and stands 5.7 cents per gallon lower than a year ago.

Areas near Austin and their current gas price climate:

San Antonio- $1.95/g, down 3.9 cents per gallon from last week's $1.98/g.

Waco- $1.98/g, down 3.8 cents per gallon from last week's $2.02/g.

College Station- $2.01/g, down 4.9 cents per gallon from last week's $2.06/g.

"Oil prices have been slow to react to a cut in oil production from OPEC, instead focusing on economic concerns and trade tensions with China," said DeHaan. "For now, prices will remain seasonally challenged, tied to the fact or expected fate of the economy moving forward."

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