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Port Arthur, other Texas refineries shuttering impact gas prices across nation

With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time.

Patrick De Haan, head of petroleum analysis for GasBuddy, said the jump in price was the result of a dozen or so refineries, primarily in Texas, forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment.

Texas gas prices have risen 11.5 cents per gallon in the past week, averaging $2.31/g today, according to GasBuddy’s daily survey of 13,114 stations in Texas.

Gas prices in Texas are 21.3 cents per gallon higher than a month ago and stand 13.9 cents per gallon higher than a year ago.

“With the cold weather behind us, price increases should begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks,” De Haan said.

“However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”

According to GasBuddy price reports, the cheapest station in Texas is priced at $1.99/g today while the most expensive is $3.06/g, a difference of $1.07/g.

The lowest price in the state today is $1.99/g while the highest is $3.06/g, a difference of $1.07/g.
The national average price of gasoline has risen 10.4 cents per gallon in the last week, averaging $2.63/g today.

The national average is up 24.2 cents per gallon from a month ago and stands 15.1 cents per gallon higher than a year ago.

Neighboring areas and their current gas prices:

• Midland Odessa – $2.38/g, up 6.7 cents per gallon from last week’s $2.32/g.
• San Antonio – $2.23/g, up 13.7 cents per gallon from last week’s $2.09/g.
• Austin – $2.25/g, up 13.2 cents per gallon from last week’s $2.12/g.

Historical gasoline prices in Texas and the national average going back ten years:

February 22, 2020: $2.17/g (U.S. Average: $2.48/g)
February 22, 2019: $2.12/g (U.S. Average: $2.40/g)
February 22, 2018: $2.27/g (U.S. Average: $2.52/g)
February 22, 2017: $2.07/g (U.S. Average: $2.28/g)
February 22, 2016: $1.51/g (U.S. Average: $1.71/g)
February 22, 2015: $2.11/g (U.S. Average: $2.29/g)
February 22, 2014: $3.19/g (U.S. Average: $3.39/g)
February 22, 2013: $3.64/g (U.S. Average: $3.78/g)
February 22, 2012: $3.50/g (U.S. Average: $3.58/g)
February 22, 2011: $3.01/g (U.S. Average: $3.16/g)

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