AMARILLO, Texas (KAMR/KCIT) – According to GasBuddy’s daily market report, gas prices in Amarillo fell two cents per gallon last week for an average of $2.84/gallon Monday morning. Gas prices in Amarillo were noted as 18 cents per gallon higher than a month ago, and 80.7 cents higher than a year ago.
Reports said that the cheapest station in Amarillo was priced at $2.59/gallon Sunday while the most expensive was $2.99, a difference of 40 cents. The lowest price in Texas Sunday was $2.59, while the highest was $3.99, a difference of $1.40.
Nationally, gas prices rose 1.8 cents per gallon in the last week for an average of $3.32/gallon Monday morning. Nationally, that average is up 3.3 cents per gallon from a month ago, and 92 cents higher than a year ago.
Neighboring areas to Amarillo:
- Lubbock– $2.86/gallon, up 1.7 cents per gallon from last week’s $2.85/gallon,.
- Midland Odessa- $3.13/gallon,, up 10.5 cents per gallon from last week’s $3.03/gallon,.
- Oklahoma- $2.97/gallon,, up 7.8 cents per gallon from last week’s $2.89/gallon,.
“With oil prices remaining elevated, average gas prices inched up in most states over the last week even as gasoline demand weakened, a testament to how concerned oil markets are with unrest in oil producing nations. With all eyes on the Russia/Ukraine situation, oil will likely remain north of $80 per barrel, with additional volatility. Prices could rise even more significantly if there is any further deterioration in the situation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, I don’t expect any immediate fireworks at the pump, but the trend of rising gas prices will likely persist as worries continue to overpower weak global consumption.”