AMARILLO, Texas (KAMR/KCIT) – According to the latest update from GasBuddy, gas prices in the Amarillo area fell 3.2 cents in the last week to reach an average of $3.24/gallon on Monday. Those prices were 32.3 cents higher than a month ago and 44.5 cents per gallon lower than a year ago.

GasBuddy reported that the cheapest station in Amarillo was priced at $3.15/gallon on Sunday while the most expensive was $3.49/gallon, a difference of 34 cents. The lowest price in Texas on Sunday was $2.65/gallon while the highest was $4.29/gallon, a difference of $1.64.

Nationally, the average price of gasoline fell 0.8 cents per gallon in the last week to reach an average of $3.64/gallon on Monday. GasBuddy noted that average was up 22.8 cents from a month ago and 46.4 cents per gallon lower than a year ago. The national average price of diesel fell 3.0 cents in the last week, meanwhile, to stand at $4.12/gallon.

Gas prices in areas neighboring Amarillo included:

• Lubbock- $3.15/gallon, down 5.0 cents per gallon from last week’s $3.20/gallon.
• Midland Odessa- $3.24/gallon, down 9.0 cents per gallon from last week’s $3.33/gallon.
• Oklahoma- $3.30/gallon, up 2.6 cents per gallon from last week’s $3.28/gallon.

“For the first time in several weeks, the national average price of gasoline has seen a decline, and while the fall was quite small, the bigger news may be that we may have seen a short-term peak for the price of gasoline. While any unexpected outages could push it up again, there is a rising possibility that barring such, we may have seen our high water mark for the national average for the summer,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Typically, gas prices peak between May and June, and with the oil market showing significant cracks in strength, we may have seen the peak in the national average already occur, a few weeks earlier than average. While it’s possible we could go higher later this summer should a major hurricane target sensitive infrastructure, it appears the odds that the national average will miss the $4 per gallon mark are rising. It’s certainly looking optimistic for motorists.”