Amarillo gas prices continue to rise. Gas prices rose 9.4 cents per gallon in the past week, averaging $1.68/g yesterday, according to GasBuddy’s daily survey of 147 gas outlets in Amarillo.
“Taking a cue from the prior week’s price rebound, retail gasoline prices continued its upward push by increasing nearly 9 cents per gallon on average nationwide,” said Will Speer, GasBuddy senior petroleum analyst.
The national average has also increased 6.8 cents per gallon in the last week to $1.81/g, according to gasoline price website GasBuddy.com.
“While most of the gasoline market was pricing in the premium associated with the transition to summer-blend gasoline, last week’s strength in crude futures prices provided no relief for the rising gas prices. Although crude oil production fell to the lowest since November 2014, crude and petroleum stocks remain the highest ever recorded in US history. This oversupply will provide a ceiling for gas prices over the next couple of months as spring refinery maintenance and the summer-blend gasoline transition put upward pressure on prices,” he said.
Amarillo gas prices are now 60.0 cents per gallon lower than the same day one year ago and 26.5 cents per gallon higher than a month ago.
The national average has increased 7.6 cents per gallon during the last month and stands 64.4 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on March 7 in Amarillo have ranged widely over the last five years:
- $2.28/g in 2015,
- $3.25/g in 2014,
- $3.50/g in 2013,
- $3.41/g in 2012 and
- $3.39/g in 2011.
Areas nearby Amarillo and their current gas price climate:
- Midland Odessa- $1.59/g, up 3.4 cents per gallon from last week’s $1.55/g.
- Oklahoma- $1.69/g, up 7.3 cents per gallon from last week’s $1.62/g.
- Lubbock- $1.61/g, up 4.5 cents per gallon from last week’s $1.56/g.