AMARILLO, Texas (KAMR/KCIT) – According to the most recent report from GasBuddy, gas prices in Amarillo fell 11.4 cents per gallon in the last week to reach an average of $3.36/gallon on Monday. Those prices were recorded as 14.7 cents per gallon lower than a month ago and 2.9 cents lower than a year ago.
GasBuddy reported the cheapest station in Amarillo was priced at $3.18/gallon on Sunday while the most expensive was $3.59/gallon, a difference of 41 cents. The lowest price in Texas on Sunday was $2.59/gallon while the highest was $4.29/gallon, a difference of $1.70.
Nationally, the average price of gas fell 10.2 cents per gallon in the last week to reach an average of $3.67/gallon on Monday, down 13.8 cents from a month ago and 25 cents lower than a year ago. The national average price of diesel fell 4 cents in the last week to stand at $4.48/gallon.
Gas prices in areas neighboring Amarillo included:
- Lubbock- $3.33/gallon, down 14.4 cents per gallon from last week’s $3.48/gallon.
- Midland Odessa- $3.30/gallon, down 5.9 cents per gallon from last week’s $3.36/gallon.
- Oklahoma- $3.34/gallon, down 13.8 cents per gallon from last week’s $3.48/gallon.
“At long last, the decline in gas prices that we’ve been waiting to see has arrived, and the locomotive of falling prices has only recently started on a downhill, gaining momentum. However, some new caution signs have emerged with the recent attacks on Israel, potentially destabilizing a sensitive region. I’m hopeful the violence won’t spread, limiting the impact to these falling gas prices. Even with oil prices rising as a reaction to the attacks, I remain optimistic the national average could decline another 25-45 cents by late November, with prices falling potentially nearly triple that in California,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Even the price of diesel has seen downward pressure with oil prices plummeting last week on fears that the Fed will be forced to continue raising rates, eating into demand growth, leading a barrel of crude to drop into the mid-$80s, but we remain concerned about a potentially destabilized Middle East and the potential impact to oil prices should the region see violence escalate.”