Fort Worth could see ‘a gentler 2024’ at pumps as price per gallon drops 13 weeks in a row
For the 13th consecutive week, the national average gas price has dropped.
The national average of $3.03 per gallon is 8.6 cents lower than a week ago, according to GasBuddy, a website that tracks gas prices in the U.S. Average gas prices are lower in the past month as well, hovering around 26.9 cents down.
“As the nation’s average price of gasoline has fallen for the 13th straight week, we’re on the cusp of potentially seeing a $2.99 per gallon average for the first time in years, most welcome just in time for the Christmas holiday,” said Patrick De Haan, head petroleum analysis at GasBuddy.
‘We could see a gentler 2024 at the pump for motorists’
The decline in gasoline prices comes just two months after Hamas militants thwarted Israeli border defenses in a surprise incursion that has led to Israel’s invasion of Gaza, a narrow strip of land on the Mediterranean Sea on Israel’s southern border with Egypt.
Analysts feared the instability could wreak havoc with the oil markets, just as the Russia-Ukraine war did in 2022. Inflated gas prices were everywhere and at its highest point in 2022, some gas stations in Fort Worth were charging nearly $5 a gallon before the market stabilized to around normal levels by year’s end.
Not long after the Israel-Hamas war began, global oil prices jumped slightly, but only by a few percent. Brent crude, the global benchmark, jumped roughly 4 percent to $88 a barrel. West Texas Intermediate, the U.S. benchmark, jumped adding more than 4 percent to roughly $86 a barrel.
Despite the jump in early October, oil prices fell steadily for the past seven weeks, and are only now rebounding.
During Monday trading, a barrel of West Texas Intermediate was up $1.73 per barrel to $73.16, according to GasBuddy. The change is a rise from last week’s $71.64 price.
Brent crude increased as well, up $1.84 to $78.39 per barrel. The increase is up from last weeks $76.29 price, according to GasBuddy.
“While the declines may soon come to an end as the price of oil has rebounded from recent lows, we could see a gentler 2024 at the pump for motorists,” De Haan said in a press release. “Gasoline could see its average fall below $3 this week while the price of diesel has just fallen below $4 for the first time since July, also very welcome news for the economy as nearly all goods are impacted by the price of diesel.”
Where are the 10 gas stations in Fort Worth with the cheapest prices?
Fort Worth is ending the year with an average gas price up by 11 cents to $2.67, according to GasBuddy’s survey of 1,039 stations in Fort Worth.
Here’s the 10 cheapest gas stations in Fort Worth:
- $2.19: Sam’s Club, 4400 Bryant Irvin Road
- $2.23: Sam’s Club, 8351 Anderson Blvd.
- $2.23: Phillips 66, 4619 River Oaks Blvd.
- $2.24: Murphy Express, 4701 Alta Mesa Blvd.
- $2.24: Walmart, 5301 Sycamore School Road
- $2.25: Costco, 8900 Tehama Ridge Parkway
- $2.25: Murphy Express, 5601 Crowley Road
- $2.27: Costco, 5300 Overton Ridge Blvd.
- $2.27: Conoco, 5530 James Ave.
- $2.29: Murphy USA, 6740 West Vickery Blvd.
