Texas Gas Pricing Update (4/18)

April 18- Average retail gasoline prices in Texas have risen 4.7 cents per gallon in the past week, averaging $1.89/g yesterday, according to GasBuddy's daily survey of 13,114 gas outlets in Texas. This compares with the national average that has increased 6.9 cents per gallon in the last week to $2.11/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Texas during the past week, prices yesterday were 35.8 cents per gallon lower than the same day one year ago and are 7.3 cents per gallon higher than a month ago. The national average has increased 13.7 cents per gallon during the last month and stands 33.0 cents per gallon lower than this day one year ago.

According to GasBuddy historical data, gasoline prices on April 18 in Texas have ranged widely over the last five years:
$2.25/g in 2015, $3.48/g in 2014, $3.38/g in 2013, $3.80/g in 2012 and $3.74/g in 2011.

Areas nearby Texas and their current gas price climate:
Midland Odessa- $1.91/g, up 5.4 cents per gallon from last week's $1.85/g.
San Antonio- $1.83/g, up 2.9 cents per gallon from last week's $1.80/g.
Austin- $1.85/g, up 3.1 cents per gallon from last week's $1.82/g.

"Gasoline prices increased last week in 49 of 50 states, thanks to a sudden jump in the price of crude oil tied to speculation of a change or freeze in oil output at this weekend's meeting in Doha, Qatar," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "At the conclusion of the talks over the weekend, no decision was made- not at all a surprise given the recent disagreements between major players Saudi Arabia and Iran. The lack of a clear vision to cut or even freeze crude oil production will likely lead to a sharp sell off in oil markets to start the week as global oil production continues to outpace demand. While typically we're used to seeing gasoline prices racing higher in the spring, the direct impact of this weekend's meeting could cause gasoline prices this week to reverse temporarily as oil markets react," DeHaan said.

For LIVE fuel price averages, visit http://media.gasbuddy.com.

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