AMARILLO, Texas (KAMR/KCIT) – GasBuddy’s daily survey reports showed Amarillo gas prices fell 6.2 cents in the last week, resting at an average of $2.73/gallon on Monday morning. Prices were noted as 14.3 cents lower per gallon than a month ago, and $1.01/gallon higher than a year ago.
The cheapest station in Amarillo, according to GasBuddy, reported prices at $2.47/gallon Monday, while the most expensive was $3.10/gallon, a difference of 63 cents. Statewide, the lowest gas price in Texas was noted at $2.43/gallon, while the highest was $3.69/gallon, a difference of $1.26.
Nationally, gas prices fell 5.3 cents in the last week for an average of $3.34/gallon Monday. GasBuddy said the national average was down 6.9 cents per gallon from a month ago, and $1.19/gallon higher than a year ago.
Monday gas prices in Amarillo’s neighboring areas include:
- Lubbock- $2.83/gallon, down 6.5 cents per gallon from last week’s $2.89/gallon.
- Midland Odessa- $3.03/gallon, down 3.8 cents per gallon from last week’s $3.07/gallon.
- Oklahoma- $2.88/gallon, down 2.0 cents per gallon from last week’s $2.90/gallon.
“The downturn in average gas prices continued to gain momentum last week as oil prices remained at a hefty discount. This is largely due to continued anxiety over the omicron variant and because some countries have begun issuing lockdowns, keeping motorists in some countries from consuming as much fuel,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While the Great Lakes region, the fastest to see prices respond to market fluctuations, is seeing hefty monthly declines approaching 30 cents per gallon, much of the rest of the country is lagging behind. But, we will see precipitous declines in the next week or two as stations continue to sell through higher-priced inventory before slowly lowering their prices. It’s not impossible given the conditions that price wars, where stations lower their price significantly, could emerge as stations now have considerable room to lower prices.”