Amarillo Gas Prices Continue to Rise, Average 2.32/g

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Amarillo’s average gas price rose 3.6 cents per gallon in the past week, to $2.32/g yesterday, according to GasBuddy’s daily survey of 147 gas outlets in Amarillo. 

This compares with the national average that has increased 3.0 cents per gallon in the last week to $2.57/g, according to gasoline price website GasBuddy.com. 

Amarillo’s average gas price is now 25.5 cents per gallon higher than the same day one year ago and is 13.4 cents per gallon higher than a month ago. 

The national average has increased 8.8 cents per gallon during the last month and stands 30.7 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on January 29 in Amarillo have ranged widely over the last five years:

  • $2.07/g in 2017, 
  • $1.53/g in 2016, 
  • $1.81/g in 2015,
  •  $2.98/g in 2014 and 
  • $3.09/g in 2013.

Areas near Amarillo and their current gas price climate:

  • Lubbock- $2.26/g, up 4.8 cents per gallon from last week’s $2.21/g.
  • Midland Odessa- $2.45/g, up 0.4 cents per gallon from last week’s $2.44/g.
  • Oklahoma- $2.38/g, up 6.2 cents per gallon from last week’s $2.32/g.

“With oil maintaining strength, gasoline prices have continued to climb in many places, rising to their highest level since Hurricane Harvey dealt a blow to Texas and a significant portion of U.S. refining capacity,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “This time around, oil prices have been the culprit for gasoline prices rising to their highest level in over 130 days, and with U.S. crude oil inventories plummeting for 10 straight weeks, I see diminishing chances of the traditional winter relief that accompanies the year’s coldest months. Without gas prices falling, the current price environment may be the floor for what could become a more expensive year than anticipated, barring any change to OPEC policy that has led to today’s climate of lower supply and higher prices.”
 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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