AMARILLO, Texas (KAMR/KCIT) – According to the most recent report from GasBuddy, gas prices in Amarillo fell 0.6 cents per gallon in the last week to reach an average of $3.19 on Monday. Those prices were recorded as 40.4 cents per gallon lower than a month ago and 1.8 cents lower than a year ago.
GasBuddy reported the cheapest station in the Amarillo area was priced at about $3/gallon on Sunday while the most expensive was $3.16/gallon, a difference of 16 cents. The lowest price in Texas on Sunday was $2.76/gallon while the highest was $3.64/gallon, a difference of 88 cents.
Nationally, the average price of gas fell 6 cents per gallon in the last week to reach an average of $3.50/gallon on Monday, down 33.6 cents from a month ago and 27.1 cents lower than a year ago. The national average price of diesel rose 3.8 cents in the last week to stand at about $4.48/gallon.
Gas prices in areas neighboring Amarillo included:
- Lubbock – $3.18/gallon, up 1 cent per gallon from last week’s $3.17/gallon.
- Midland-Odessa – $3.17/gallon, down 7 cents per gallon from last week’s $3.24/gallon.
- Oklahoma – $3.17/gallon, down 3.1 cents per gallon from last week’s $3.20/gallon.
“As air temperatures trend downward as we progress into fall, gasoline prices have seen another week of their own seasonal fall. The national average is on the cusp of falling to the lowest level since March, something that could happen this week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Demand for gasoline continues to weaken as we get closer to seeing the first snow flurries fly across some areas of the country, and against the backdrop of winter, there isn’t as much desire to get out. Coupled with cheaper winter gasoline and refinery issues that have faded to the rearview thanks to the drop in demand, gasoline prices have been weakening even as oil prices have climbed, putting pressure on refineries as margins flatten and gasoline becomes the unwanted byproduct of producing other products like diesel and jet fuel, which command a higher price than gasoline. However, there’s only so much refineries can do, because they must produce gasoline at high quantity to get those premium barrels. For now, that trend will likely mean further declines in the weeks ahead, before prices bottom out between Thanksgiving and Christmas.”