Average gasoline prices in Austin have fallen 4.0 cents per gallon in the last week, averaging $3.12/g today, according to GasBuddy’s survey of 830 stations in Austin. Prices in Austin are 26.8 cents per gallon lower than a month ago and stand 36.1 cents per gallon higher than a year ago. The national average price of diesel has declined 5.1 cents in the last week and stands at $4.88 per gallon.
“One of the longest gas price declines on record has finally come to an end after 14 weeks, with gas prices shooting up in several regions amidst myriad refinery issues from the West Coast to the Great Lakes and in between,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I don’t know that I’ve ever seen a wider gamut of price behaviors coast to coast in my career. A slew of unexpected refinery disruptions, including fires and routine maintenance, have seemingly all happened in a short span of time, causing wholesale gas prices to spike in areas of the West Coast, Great Lakes and Plains states – and some of those areas could see prices spike another 25-75 cents per gallon or more until issues are worked out. In addition, as Tropical Storm Ian nears the U.S. coast, some refiners could see limited disruption. As a precaution, GasBuddy has activated its Fuel Availability Tracker for motorists in Florida, Georgia, Alabama and South Carolina. Hopefully, disruptions will be very limited due to Ian, but there remain many factors driving prices both up and down across the country.”
The national average price of gasoline has risen 3.2 cents per gallon in the last week, averaging $3.67/g today. The national average is down 17.5 cents per gallon from a month ago and stands 49.3 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
