Midland-Odessa Weekly Gas Price Update

By Josiah Carrasco

July 15, 2024

Gasoline prices in the Midland-Odessa area have dropped by 11.2 cents per gallon over the past week, now averaging $3.04 per gallon. Despite this decrease, prices remain 25 cents per gallon higher than a month ago and 7.7 cents per gallon higher than this time last year. The price range within Midland-Odessa varies, with the cheapest station at $2.83 per gallon and the most expensive at $3.29 per gallon.

Nationally, the average price of gasoline has risen slightly by 2.5 cents per gallon, now standing at $3.49 per gallon. Diesel prices have also seen a small increase, averaging $3.83 per gallon.

Patrick De Haan, head of petroleum analysis at GasBuddy, noted that while Hurricane Beryl did not significantly impact gas prices, some drivers in Texas experienced difficulties finding gasoline due to power outages, a situation that is gradually improving. As summer travel peaks, small price fluctuations are expected.

Background

Historical gasoline prices in Midland-Odessa provide context for these changes:

- July 15, 2023: $2.97/g

- July 15, 2022: $4.10/g

- July 15, 2021: $3.03/g

Neighboring areas have also seen slight changes in their gas prices:

- Lubbock: $2.91/g

- Amarillo: $2.93/g

The fluctuations reflect broader trends in the national market, influenced by supply and demand dynamics, seasonal changes, and external factors like natural disasters.

Based on reports by Odessa American and Ground News.