Amarillo Gas Prices Continue to Fall, $3.21/g Average

By Karl Wehmhoener |

Published 08/11 2014 09:25AM

Updated 08/11 2014 09:19PM

AMARILLO -- Average retail gasoline prices in Amarillo fell another 2.6 cents per gallon in the past week, averaging $3.21/g

The national average only fell 1.7 cents per gallon in the last week to $3.47/g. 

"Motorists taking those late summer vacations continue to see their risk paying rewards: gasoline prices continue to hold near the lowest levels of the summer," said Senior Petroleum Analyst Patrick DeHaan. 

Gas prices are now 11.9 cents per gallon lower than the same day one year ago and 15.9 cents per gallon lower than a month ago. 

The national average has decreased 15.4 cents per gallon during the last month and stands 8.2 cents per gallon lower than this day one year ago. 

"It's relatively rare to see prices holding lower in the mid-to-late summer, as hurricanes tend to weigh on prices and demand for gasoline is highest during the second half of the summer. However, oil prices rallied in mid-June, altering the behavior of gasoline prices, and after the situation in Iraq cooled, it let to a widespread selloff in commodities that led to cheaper oil prices and refineries passed the savings onto motorists. Prices today versus last year are lower in many communities across the country. The best news is that as the driving season concludes, prices are likely to drop- most significantly in late September through the holidays," DeHaan said.

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