Austin Pump Prices Drop Another 3.6-Cents

Austin gas prices have fallen 3.6 cents per gallon in the past week, averaging $1.46/g today, according to GasBuddy’s daily survey of 830 stations. Gas prices in Austin are 19.7 cents per gallon lower than a month ago and stand 106.5 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Austin is priced at $1.17/g today while the most expensive is $2.00/g, a difference of 83.0 cents per gallon. The lowest price in the state today is $1.09/g while the highest is $2.39/g, a difference of $1.30/g.

“It’s becoming a bit clearer that those 99 cent per gallon gas prices from the COVID-19 pandemic are solidly behind us as gasoline demand rebounds across the country as cities and states slowly reopen. The lowest priced stations in the country will see some upward movement, but most areas will still see declines,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “While oil may continue to struggle, a disconnect between low oil prices and rising gasoline prices has emerged at the hands of refineries that have slowed production over the past month to avoid flooding the market with unwanted gasoline. As demand stages a rebound, it remains to be seen how quickly refiners will raise production to meet the locations that have or will begin to re-open in the days and weeks ahead. For now, expect prices to see upward potential- but only in the lower priced states- as we await a boost in gasoline production.”

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