AMARILLO, Texas (KAMR/KCIT) – Gas prices in the Amarillo area rose 56.6 cents per gallon in the last week, reaching an average of $3.02/gallon on Monday, according to the most recent report from GasBuddy. Those prices were noted as 67.7 cents higher than a month ago and 42.9 cents lower than one year ago.
The cheapest gas in Amarillo was priced at around $2.79/gallon on Sunday, while the most expensive was $3.84/gallon, a difference of $1.05 per gallon. The lowest price in Texas on Sunday was priced at $2.19/gallon, while the most expensive was $4.19/gallon, a difference of $2.00.
Nationally, the average price of gas rose 51.1 cents per gallon in the last week to reach an average of $3.45/gallon on Monday. That national average was noted as up 54.1 cents per gallon from a month ago and 41.6 cents per gallon lower than a year ago. he national average price of diesel increased by 85.9 cents compared to a week ago, standing at around $4.59/gallon.
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Gas prices in areas neighboring Amarillo included:
- Lubbock- $3.01/gallon, up 58.6 cents per gallon from last week’s $2.42/gallon.
- Midland Odessa- $3.18/gallon, up 57.5 cents per gallon from last week’s $2.61/gallon.
- Oklahoma- $2.95/gallon, up 53.3 cents per gallon from last week’s $2.41/gallon.
“In just a week, consumers have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following U.S. strikes on Iran and the effective closure of the Strait of Hormuz,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With additional attacks across the Middle East over the weekend pushing oil above $100 per barrel for the first time in years, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows. As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week, with price-cycling markets potentially seeing increases as early as today. Diesel may rise even more sharply, with increases of 35 to 75 cents per gallon possible as global distillate markets react. While the situation remains highly fluid, consumers are already beginning to feel the impact as energy markets adjust to this sudden escalation.”…