AMARILLO, Texas (KAMR/KCIT) – The latest GasBuddy report shows that Amarillo gas prices have fallen 0.5 cents per gallon in the last week, for an average of around $2.68/g on July 6.
Gas prices are still 4.1 cents per gallon higher than one month ago, however, and GasBuddy also reported the area to have gas prices 90 cents per gallon above this time last year.
According to GasBuddy price reports, the cheapest station in Amarillo is priced at $2.52/g today while the most expensive is $2.99/g, a difference of 47.0 cents per gallon. The lowest price in the state today is $2.19/g while the highest is $3.49/g, a difference of $1.30/g.
Nationally, the average price of gasoline hasn’t changed in the last week, with an average of $3.12/g. Compared to a month ago, gallons of gas are 7.9 cents more expensive, and prices have raised 94.3 cents over the last year.
Neighboring areas and their current gas prices:
- Lubbock- $2.75/g, up 1.4 cents per gallon from last week’s $2.73/g.
- Midland Odessa- $3.03/g, up 1.9 cents per gallon from last week’s $3.01/g.
- Oklahoma- $2.82/g, up 2.4 cents per gallon from last week’s $2.80/g.
“Gasoline demand over the holiday weekend certainly did not disappoint as millions of Americans flooded the roads for the long weekend, guzzling down gasoline at a clip not seen in years, and in the process, we could have set new all-time records for consumption,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “As OPEC met over the weekend and saw a heated disagreement about raising oil production, WTI crude oil surged in Monday evening electronic trading to nearly $77 per barrel on higher demand and a lack of additional supply from OPEC amidst a mountain of disagreement on how to respond to the market. For now, with imbalances in supply and demand continuing, motorists will continue digging deeper to pay for gasoline as prices are likely headed no where but up until global supply starts to catch up with the continued surge in demand.”