AMARILLO, Texas (KAMR/KCIT) – According to the latest report from GasBuddy, Amarillo gas prices fell 15.3 cents in the last week to reach an average of $2.67/gallon on Monday. Those prices were noted as 51.3 cents per gallon lower than a month ago and 6.1 cents lower than a year ago.

GasBuddy recorded the cheapest station in Amarillo to be priced at $2.51/gallon on Sunday while the most expensive was $2.80/gallon, a difference of 29 cents. The lowest price in Texas on Sunday was $2.29/gallon while the highest was $4.49/gallon, a difference of $2.20.

Nationally, gas prices fell 15.8 cents per gallon in the last week to reach an average of $3.36/gallon on Monday. That national average was noted to be down 43 cents per gallon from a month ago and 1.5 cents higher than a year ago. The national average price of diesel fell about 13.6 cents in the last week to reach an average of $5.06/gallon.

Gas prices in areas neighboring Amarillo included:

  • Lubbock- $2.70/gallon, down 12.3 cents per gallon from last week’s $2.83/gallon.
  • Midland Odessa- $2.96/gallon, down 9.5 cents per gallon from last week’s $3.06/gallon.
  • Oklahoma- $2.79/gallon, down 15.6 cents per gallon from last week’s $2.94/gallon.

“For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas. There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March. However, despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in. Retaliation is possible, and while OPEC+ upheld production cuts from last month, they could always cut more production. For now, however, we’ll likely see another week of declines at the pump in nearly all areas.”