AMARILLO, Texas (KAMR/KCIT) – Gas prices in Amarillo rose 24 cents per gallon over the last week and reached an average of $2.82/gallon on Monday, according to the latest reports from GasBuddy. Those prices were noted as 10.9 cents per gallon higher than a month ago and 10.1 cents per gallon higher than a year ago.

GasBuddy reported that the cheapest station in Amarillo was priced at $2.59/gallon on Sunday while the most expensive was $2.99/gallon, a difference of 40 cents. The lowest price in Texas on Sunday was recorded at $2.27/gallon while the highest was $4.17/gallon, a difference of $1.90.

Nationally, gas prices rose 12.3 cents per gallon in the last week to reach an average of $3.17/gallon on Monday. GasBuddy reported that the average is down 22.5 cents per gallon from a month ago and 9.5 cents per gallon lower than a year ago. The national average price of diesel also fell over the last week, by about 1.4 cents, to reach an average of $4.67/gallon.

Gas prices in areas neighboring Amarillo included:

  • Lubbock- $2.74/g, up 20.7 cents per gallon from last week’s $2.53/gallon.
  • Midland Odessa- $2.99/g, up 30.2 cents per gallon from last week’s $2.69/gallon.
  • Oklahoma- $2.80/g, up 19.1 cents per gallon from last week’s $2.61/gallon.

“For the first time in two months, the nation’s average price of gasoline rose sharply last week, as extremely cold weather led to many refinery issues, shutting down over a million barrels of refining capacity, pushing wholesale prices up,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, China’s reopening plans gave markets inspiration that global oil demand will start to recover, as China’s nearly three year Covid-zero policies appear to be coming to an end. While the jump at the pump will likely be temporary as most refiners get back online after cold-weather related issues, some regions like the Rockies may see more price increases than others as cold-weather shutdowns hit the region fairly hard, with one refinery likely remaining down through the first quarter of 2023. Most areas have seen the bulk of the rise already hit, but should oil continue to rally, more increases could be on the way.”

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