The gas prices in El Paso vary from day to day and depend on the type of gas being purchased, such as regular unleaded, mid-grade, or premium. According to GasBuddy. com as of August 29th, 2020, the average price of a gallon of regular unleaded gasoline in El Paso, Texas is currently $1.
82. Prices range from a low of $1. 78 per gallon to a high of $2. 09 per gallon. Mid-grade gasoline averages roughly $2. 04 per gallon, with a range of $1. 98 to $2. 18 per gallon. The highest priced gas in El Paso is premium, with an average of $2.
10 per gallon, with prices ranging from $2. 06 to $2. 20 per gallon.
What city in Texas has the cheapest gas?
The cheapest gas in Texas can be found in some of the smaller cities. Generally, prices will be lower in places where the population is low and competition is not as heavy. Places like Laredo, Abilene, and Amarillo tend to have some of the lowest fuel prices in the state.
In addition, taking a short drive through the countryside can sometimes lead to great deals. Even with the fluctuating market, rural, out-of-the way stops will often have cheaper prices. Of course, as with any location, it is always best to shop around a bit and compare prices at several different stations, as prices can vary greatly from one gas station to another.
Ultimately, the city with the cheapest gas in Texas is always changing and can be difficult to predict.
Why is gas more expensive in El Paso?
Gas prices in El Paso are higher than other cities due to the city’s unique geographic location. The city is located in the western corner of Texas, far away from two of the most important delivery points for gasoline, the Houston and Corpus Christ Cable Oil Terminals.
This increases the cost of transporting gasoline and other products to El Paso, where there is often a one to two-cent-per-gallon price premium compared to Houston and Corpus Christi. In addition, El Paso is a border city, which means that it is subject to environmental regulations specific to Mexico.
The environmental regulations require greater emissions controls, adding to the cost of gasoline, which is then passed onto the consumer. To further add to the cost of gasoline in El Paso, the city is surrounded by mountain ranges that limit the availability of natural gas and diesel fuel.
This lack of fuel supply means that the refining and transportation of gasoline, both of which are expensive, is necessary to meet the city’s needs. As a result, this increases the cost of gas for residents of El Paso.
When was gas $4 in Texas?
Gas in Texas was last seen at $4 per gallon in late April 2014 according to Gasbuddy. com. During that time, the statewide average for a gallon of regular gasoline was $3. 97 on April 25th. Prices had been climbing since January 2014, with the highest gas price reported on April 24th, the same day that prices in neighboring Louisiana, Oklahoma, and Arkansas broke their records.
Gas prices remained above $3. 50 throughout the summer, but by August prices had fallen to around $3. 27 per gallon. It wasn’t until September 2014 that prices fell to $3. 00 again, before slowly trending upward until mid-October.
After that, the statewide average remained steady or slowly declining, even into 2015. In October 2015, the statewide average for a gallon of regular gasoline was around $2. 47.
Why was gas over $4.00 a gallon?
Gas prices reaching over $4.00 a gallon in 2008 had a multifaceted cause, but two primary drivers were increasing oil prices and the weakened U.S. dollar.
The cost of oil, which is the foundational element of gas prices, increased substantially throughout the early 2000s due to a variety of factors, including heightened demand from developing countries such as India and China, increasing global instability that threatened production from prominent oil-producing nations such as Iraq, and falling production from Mexico’s oil fields.
The U. S. dollar also played a substantial role in gas prices reaching over $4. 00 in 2008. At the time, the weakened U. S. dollar undercut the buying power of American citizens, driving up the cost of trade-able commodities like oil.
This meant that while, in theory, the cost of a barrel of oil could remain constant, the costs could still increase due to the decreased buying power of the U. S. dollar.
Taken together, these two elements drove up gas prices to a record high in 2008 of over $4. 00 a gallon. Since that time, both oil prices and the U. S. dollar have rebounded somewhat, moderating the cost of gas and returning it to the normal range of inflation-adjusted price movements.
When was the last time gas was $4 a gallon in the US?
The last time that regular unleaded gas reached the $4 a gallon mark in the US was November 2014. The abrupt rise in the price of crude oil during the summer of 2014 was the key factor that pushed the nationwide average price of a gallon of regular unleaded gasoline above $4 a gallon.
Prior to this, gas prices in the US had been fairly stable since early 2011, hovering around the $3. 50/gallon mark. The surge in gas prices during 2014 was very noticeable and a gallon of regular unleaded gas in some US states even surpassed the $4.
25/gallon mark. The price drop in 2015’s fourth quarter brought the national average of regular unleaded gasoline back down to the $2. 00/gallon mark.
What year was gas prices the highest?
The highest average retail price of regular gasoline in the United States occurred in 2012 when the average price of gas was $3. 622 per gallon, according to the U. S. Energy Information Administration.
This was the highest annual price per gallon that the U. S. ever experienced. The second highest price was in 2011 when the average price of gas was $3. 53 per gallon.
During the summer months, gasoline prices typically reach their highest level of the year since gasoline is at its peak demand season. In 2012, prices soared to $3. 94 a gallon in May and June, which was the highest peak monthly price ever seen in the United States.
The reason for rising gasoline prices at this time of year is because the demand is higher and there are very few refineries. Other factors that can contribute to high gas prices include high oil and gas prices, global political and economic uncertainty, supply disruptions, and market speculation.
Recent years have seen a decrease in gas prices, with large price reductions in late 2014 and early 2015. Gas prices in 2019 were at their lowest level since 2004, according to the U.S. EIA.