“I expect additional declines ahead of July 4 for both gasoline and diesel prices”

Published 5:49 am Monday, June 10, 2024

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Motorists have seen one of the larger weekly drops in the national average price of gasoline in some time.

Patrick De Haan said nearly every state has also seen prices drop compared to a month ago.

With the declines, according to the head of petroleum analysis at GasBuddy, Americans are going to spend roughly $425 million less per week on gasoline than a year ago.

“In addition, the price of diesel has fallen alongside gasoline to its lowest level since Russia’s invasion of Ukraine in early 2022,” he said. “This price decline party is ramping up, and I expect additional declines ahead of July 4 for both gasoline and diesel prices.”

Six states now have average prices below $3 per gallon, and more are going to join soon, with the number of U.S. stations at $2.99 or lower already nearing 25,000.

Average gasoline prices in Texas have fallen 13.2 cents per gallon in the last week, averaging $2.90/g today, according to GasBuddy’s survey of 13,114 stations in Texas.

Prices in Texas are 27.2 cents per gallon lower than a month ago and stand 23.3 cents per gallon lower than a year ago.

The national average price of diesel has fallen 6.7 cents in the last week and stands at $3.75 per gallon.

According to GasBuddy price reports, the cheapest station in Texas was priced at $2.49/g Sunday while the most expensive was $3.79/g, a difference of $1.30/g.

The national average price of gasoline has fallen 10 cents per gallon in the last week, averaging $3.40/g today.

The national average is down 23 cents per gallon from a month ago and stands 18.2 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Neighboring areas and their current gas prices:

• Midland Odessa – $2.81/g, down 7.3 cents per gallon from last week’s $2.88/g.
• San Antonio – $2.87/g, down 22.1 cents per gallon from last week’s $3.09/g.
• Austin – $2.95/g, down 17.8 cents per gallon from last week’s $3.13/g.

Historical gasoline prices in Texas and the national average going back ten years:

June 10, 2023: $3.13/g (U.S. Average: $3.58/g)
June 10, 2022: $4.65/g (U.S. Average: $5.01/g)
June 10, 2021: $2.76/g (U.S. Average: $3.08/g)
June 10, 2020: $1.79/g (U.S. Average: $2.08/g)
June 10, 2019: $2.42/g (U.S. Average: $2.73/g)
June 10, 2018: $2.72/g (U.S. Average: $2.91/g)
June 10, 2017: $2.15/g (U.S. Average: $2.33/g)
June 10, 2016: $2.15/g (U.S. Average: $2.38/g)
June 10, 2015: $2.54/g (U.S. Average: $2.75/g)
June 10, 2014: $3.43/g (U.S. Average: $3.65/g)