AMARILLO, Texas (KAMR/KCIT) – Beginning the new year with an uptick in cost, gas prices around the Amarillo area rose 5.1 cents in the last week to reach an average of $2.72/gallon. According to the GasBuddy daily price survey, those costs are 3.2 cents per gallon lower than a month ago, and 83.5 cents per gallon higher than a year ago.
GasBuddy price reports noted that the cheapest station in Amarillo priced gas at $2.59/gallon on Monday, while the most expensive was $2.99/gallon, a difference of 40 cents. In the state of Texas, the lowest price Monday was reported at $2.43/gallon, while the highest was $3.69/gallon, a difference of $1.26.
Nationally, the price of gas fell 0.9 cents in the last week, for an average of $3.27/gallon at the start of 2022’s first workweek. That national average is down nine cents per gallon from a month ago, said GasBuddy, and $1.03/gallon higher than a year ago.
Prices in Amarillo’s neighboring areas:
- Lubbock- $2.77/gallon, up 0.7 cents per gallon from last week’s $2.76/gallon.
- Midland Odessa- $3.02/gallon, up 2.2 cents per gallon from last week’s $3.00/gallon.
- Oklahoma- $2.82/gallon, down 0.6 cents per gallon from last week’s $2.83/gallon.
“After a pretty long run of falling gas prices, we’ve seen things stabilize. Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, Great Lakes states were expected to see a price hike last week, but the hike hasn’t happened just yet, leading me to believe it will occur in short order this week and send the national average higher. For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases.”