Amarillo gas prices rise 18 cents, average $3.05/gallon

Posted: Jan 23, 2023 / 06:52 AM CST

Updated: Jan 23, 2023 / 06:52 AM CST

AMARILLO, Texas (KAMR/KCIT) – According to the latest reports from GasBuddy, gas prices in Amarillo rose 18 cents per gallon over the last week to reach an average of $3.05/gallon on Monday. Those prices were 51.4 cents per gallon higher than a month ago and stand 21.4 cents per gallon higher than a year ago.

GasBuddy reported that the cheapest station in Amarillo was priced at $2.39/gallon on Sunday while the most expensive was $3.48/gallon, a difference of $1.09. The lowest price in Texas on Sunday was $2.29/gallon while the highest was $4.17/gallon, a difference of $1.88.

Nationally, the average price of gas rose 11.3 cents per gallon over the last week, averaging $3.39/gallon on Monday in GasBuddy’s reports. That national average was noted as up 30.2 cents per gallon from a month ago and 7.3 cents per gallon higher than a year ago. Nationally, the price of diesel rose 2.6 cents in the last week to stand at $4.60/gallon.

Gas prices in areas neighboring Amarillo included:

Lubbock- $2.95/gallon, up 13.7 cents per gallon from last week’s $2.82/gallon.
Midland Odessa– $3.22/gallon, up 24.1 cents per gallon from last week’s $2.98/gallon.
Oklahoma- $3.03/gallon, up 15.3 cents per gallon from last week’s $2.87/gallon.

“Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”