AMARILLO, Texas (KAMR, KCIT) – Beginning the workweek on Oct. 11, Amarillo gas prices were reported to average around $2.87/gallon; a 10 cent raise from the previous week. That average was also noted as 11.5 cents per gallon higher than last month, and $1.04/gallon higher than one year ago.
According to GasBuddy’s daily survey of prices in the Amarillo area, the cheapest local gas station priced around $2.75/gallon Monday morning, while the most expensive was $2.99/gallon, a difference of 24 cents. In the State of Texas the cheapest gas price was $2.59/gallon, while the most expensive was over a dollar higher at $3.60/gallon.
Nationally, gas prices rose around 5.2 cents per gallon in the last week. GasBuddy reported a national average of $3.25/gallon Monday morning, up 7.5 cents from a month ago and $1.08/gallon higher than one year ago.
Gas prices in neighboring areas to Amarillo:
- Lubbock- $2.79/g, up 5.4 cents per gallon from last week’s $2.73/gallon.
- Midland Odessa- $3.00/g, up 2.4 cents per gallon from last week’s $2.98/gallon.
- Oklahoma- $2.90/g, up 4.7 cents per gallon from last week’s $2.85/gallon.
“Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” said GasBuddy Head of Petroleum Analysis Patrick De Haan. “The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”