Midland bucks trend of rising gas prices [Midland Reporter-Telegram, Texas]

Oilfield CompaniesJan. 18–There were average gas price decreases in just six of AAA Texas’ larger 27 metropolitan areas, and no markets posted lower declines this past week than Odessa and Midland.

The Petroplex cities led the state with 5- and 4-cent decreases, respectively, when it came to the average price of gas. The movement in prices helped bring average gas prices in both cities closer to $2 a gallon mark and also closer to the state average. AAA Texas reported an average in Midland of $2.44 and an average of $2.38 in Odessa. They are still the lone metropolitan areas in the state showing averages at or above $2 a gallon. The next highest price can be found in Austin — $1.94. The state average was $1.93, and the national average was $2.24.

Distributors have told the Reporter-Telegram there are many complexities in the fuel business that impact pricing. They pointed to the high cost of transportation from Gulf Coast refineries and Midland’s distance from pipelines.

One year ago, the average in Midland was $2.48, which was 20 cents higher than the state average and 5 cents lower than the national average. Both Midland and Odessa show lower prices this week compared to mid-January of 2018 (by 4 and 6 cents, respectively). AAA Texas reports the other 25 metropolitan areas showed year-over-year decreases in the average price from 29 cents to 47 cents.

Across the region, the average prices were: $1.80 in El Paso (the lowest average in the state), $1.86 in Lubbock, $1.88 in Abilene and Amarillo and $1.90 in San Angelo.

AAA Texas reports the last time the statewide gas price average increased in Texas was on Oct. 10, when the price went from $2.66 to $2.67 per gallon. The price of crude oil has been slowly, but steadily increasing since the beginning of the year, which is starting to push up pump prices, according to the organization.

“While gas prices remain 35 cents less per gallon compared to this time last year, some Texans will start to notice a slight increase in what they pay at the pump this month,” said Daniel Armbruster, AAA Texas/AAA New Mexico spokesman.

Gas price report


Thursday $2.395 $1.904

Last week $2.437 $1.920

Last month $2.567 $2.051

Last year $2.443 $2.287

Source: TexasGasPrices.com


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