Amarillo gas prices decline as fewer travelers are on the road this thanksgiving
Here’s what the panhandle can expect if traveling this holiday.
AMARILLO, Texas (KFDA) - There are low gas prices across the state for those hitting the road this thanksgiving and fewer Americans traveling this holiday.
Right now, average gas prices in Amarillo are about $1.63 a gallon. That’s down four cents in the last week as thanksgiving approaches. It remains a far lower price than what Amarillo was spending last year which was about $2.19 a gallon.
A GasBuddy Thanksgiving Travel survey finds only 35 percent of Americans will be traveling for thanksgiving this year with the lowest thanksgiving gas prices the country has seen in years.
“What we found this year is a tremendous drop in the amount of Americans hitting the road. Only a third of respondents to our survey said that they’ll be hitting the road for thanksgiving. That compares to two-thirds last year. So, a pretty big 45 percent drop in travelers hitting the road for thanksgiving this year,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
The reason for this drop in gas price and fewer people traveling is coronavirus related.
“Of course, Amarillo being in Texas is much below the national average which fell about penny in a half in the last week. The national average stands at about $2.10 a gallon, so close to 50 cents a gallon less in Amarillo than what we’re seeing nationally,” said DeHaan.
The pandemic has affected the demand for gas this week causing a decrease in prices as less people travel for the holiday this year.
“Especially when you look at the amount of fuel that’s being used this time, this year, as compared to 2019. We’re at a 43 percent usage whereas we would have been 100 percent at this point and time. So, we are at about 43 percent usage of gasoline right now,” said Judy Stark, president of Panhandle Producers & Royalty Owners Association.
Currently the lowest gas price in Amarillo is the Sam’s Club on Ross-Osage Drive at $1.51 a gallon which is only eight cents above the lowest price across the state of Texas.
DeHaan says gas prices won’t go down much more than where they are now, however after thanksgiving, you can expect prices to slowly go back up because of the recent vaccine news.
“I think going on with all the good news that we’ve heard about... a vaccine with a 95 percent cure rate is very encouraging. Texas is one of the states that is going to get it first,” said Stark.
According to the Gasbuddy analysis, after the weekend you will see a slow increase of a few cents here and there every couple weeks and by the end of the year, gas prices will probably be five to 10 cents higher than where they are today.
You can find the full GasBuddy Thanksgiving study here.
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