How Gas Prices Changed in Houston Last Week

How Gas Prices Changed in Houston Last Week

Pump prices fell several cents on average this week compared to last week as the Organization of the Petroleum Exporting Countries announced it would continue cutting oil production until the end of this year and the following year. The average price of a gallon of regular gasoline remains about the same as it was a year ago.

In a statement Monday, Patrick De Haan, an analyst at GasBuddy, said he does not expect the extension of these reductions to put upward pressure on prices. With demand for gas falling since Memorial Day weekend and “refiners injecting the largest amount of oil into their facilities in years, it is very likely that we will continue to see gas prices fall over time.” ‘July 4th is approaching.’

In April, rising gasoline prices increased consumer anxiety about the future of the economy, adding to the continued decline in the consumer confidence index that has lasted for several months. This confidence level increased slightly with the most recent reading in May, although it is still at a level that generally indicates a recession is on the horizon.

Stacker compiled statistics on gas prices in the Houston, Texas, metro area using AAA data. Gas prices are in effect as of June 3.

Houston by the numbers
– Current gas price: $3.08
— Texas average: $3.08
– Weekly change: -$0.04 (-1.3%)
– Change of year: +$0.02 (+0.8%)
– Historical price of expensive gas: $4.68 (06/11/22)

– Current diesel price: $3.44
– Weekly change: -$0.04 (-1.1%)
– Change of year: +$0.04 (+1.1%)
– Historical price of expensive diesel: $5.24 (06/19/22)

Subways with the most expensive gas
#1. Napa, California: $5.42
#2. Santa Rosa, California: $5.31
#3. Salinas, California: $5.28

Metros with the cheapest gas
#1. Amarillo, Texas: $2.85
#2. Lubbock, TX: $2.86
#3. Chattanooga (TN only), TN: $2.90