AMARILLO, Texas (KAMR/KCIT) – According to tracking data from GasBuddy, gas prices in Amarillo fell 3.5 cents in the last week, resting at an average of $2.68/gallon Monday morning. Those prices were 16.9 cents lower than a month ago, and around 91.2 cents higher than a year ago.

GasBuddy’s price reports showed the cheapest station in Amarillo to have a price of $2.54/gallon Monday morning, while the most expensive was $2.99/gallon, a difference 45 cents. Statewide, the lowest price in Texas was noted at $2.35/gallon while the highest was $3.69/gallon, a difference of $1.34.

Nationally, gas prices fell 2.4 cents per gallon in the last week for an average of $3.32/gallon Monday morning. That national average was shown to have lowered nine cents from a month ago, though stands $1.18/gallon higher than a year ago.

Gas prices in Amarillo’s neighboring areas included:

  • Lubbock- $2.79/gallon, down 2.4 cents per gallon from last week’s $2.81.
  • Midland Odessa- $3.00/gallon, down 4.0 cents per gallon from last week’s $3.04.
  • Oklahoma- $2.84/gallon, down 3.4 cents per gallon from last week’s $2.88.

“With the price of crude oil remaining some $13 per barrel below its 2021 peak, we have continued to see gas prices decline in nearly every city coast to coast, a trend that will likely continue into yet another week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Omicron concerns continue to be the primary catalyst for the drop in gas prices across much of the country. While we’ve seen some anecdotal reports about the new variant, vaccine producers have yet to definitively state if current vaccines will still bring adequate protection against omicron- something that might be critical to limit severity and to avoid new shutdowns. With OPEC+ members still planning to boost oil production in January, we continue to see global oil production slowly rising. In addition, U.S. gasoline demand last week fell to the lowest level since October, which may limit oil’s recent rebound and keep gas prices declining through the end of the year.”