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Gas prices continue to fall, San Marcos drivers see costs per gallon below $3

PRICE AT THE PUMP
Sunday, September 11, 2022

Gas prices at some gas stations in San Marcos have fallen below $3 per gallon for unleaded fuel.

Multiple gas stations reportedly had costs around $2.93-$2.99 in San Marcos as of Saturday, according to Gas-Buddy — a travel and navigation app that is used to save money on gas.

Drivers in the San Marcos/Austin area continued to see a drop in gas prices this week, AAA Texas said in a news release.

The San Marcos area saw a 14-cent decrease compared to last week. AAA Texas stated that as of Thursday drivers in the area were paying an average of $3.25 for unleaded fuel compared to last week’s $3.39. Average gas prices, however, are still up 48 cents compared to last year.

Texans are paying the lowest average for unleaded gas in the U.S. The statewide average across Texas is eight cents less than last week at $3.21 but is $0.39 more per gallon compared to last year.

AAA Texas said the average fell for the 12th consecutive week. Crude oil prices are down nearly $15 per barrel since the end of August and continue to remain below $90 per barrel. AAA Texas added that fuel prices will likely continue to decrease in the future with crude oil making approximately 50-60% of the cost of a gallon of gas.

“Texas gas prices are down 32 percent from this summer’s record highs and are the cheapest in the nation today,” AAA Texas spokesperson Daniel Armbruster said. “Retail gas prices are expected to continue to decline as the price of crude oil decreases. However, fluctuations remain possible as markets are sensitive to geopolitical events such as the war in Ukraine.”

Nationwide, average gas prices have dropped for the 12th straight week, declining 7.7 cents from last week to $3.75 per gallon, according to Gas-Buddy. The national average has decreased 29.5 cents from last month but is $0.576 per gallon higher than last year, Gas Buddy added. The national average price of diesel is down two cents since last week and was at $5.02 per gallon.

“The national average has declined for 12 straight weeks, the longest tally since 2018, and it could soon eclipse that mark if we see two more weeks of decline,” said Patrick De Haan, head of petroleum analysis at Gas-Buddy. “Though, that may be more challenging given OPEC’s decision yesterday to cut oil production. For now, price movements will be contingent on where you are, with California seeing some minor increases, while the Great Lakes could see an upward move as BP’s refinery outage has had an impact on supplies. In the Gulf and Rockies, prices may continue to fall, so a very mixed bag for motorists in the week ahead. In addition, there are several disturbances in the Atlantic to keep an eye on, but we do switch back to cheaper winter gasoline in just over a week which should provide some additional relief.” In Texas, El Paso drivers are paying the most on average at $3.48 per gallon, while drivers in the McAllen area are paying the least at $3.02 per gallon. ncastillo @sanmarcosrecord.com Twitter: @Nick_Castillo74

San Marcos Record

(512) 392-2458
P.O. Box 1109, San Marcos, TX 78666