Valley gas prices jump by 21.3 cents in a week

Recent price increases in the Rio Grande Valley have outpaced the national average.

On average across the United States, the price of regular gasoline increased by 15 cents over the past two weeks.

While prices in the Valley remain overall lower than the national average of $4.38 per gallon, GasBuddy announced Monday morning a weekly jump of 21.4 cents in the Rio Grande Valley in the past week

With that increase, the marquees at Valley gas stations have been advertising gasoline at about $3.91 per gallon on average, according to GasBuddy’s survey of 410 stations in Rio Grande Valley.

Prices in the Valley are 31.4 cents per gallon higher than a month ago and stand $1.31 per gallon higher than a year ago. The price of diesel has risen 22.6 cents nationally in the past week and stands at $5.518 per gallon.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the current price sits just a nickel below the highest average price in history — $4.43, set on March 11.

The average U.S. price at the pump is $1.36 higher than it was one year ago.

Nationwide, the highest average price for regular-grade gas is in the San Francisco Bay Area, at $5.85 per gallon. The lowest average is in Tulsa, Oklahoma, at $3.80 per gallon.

According to the survey, the average price of diesel soared 43 cents over two weeks, to $5.58 a gallon.

Historical gasoline prices in Rio Grande Valley and the national average going back 10 years:

>> May 9, 2021: $2.60/g (U.S. Average: $2.95/g)

>> May 9, 2020: $1.44/g (U.S. Average: $1.84/g)

>> May 9, 2019: $2.50/g (U.S. Average: $2.87/g)

>> May 9, 2018: $2.58/g (U.S. Average: $2.84/g)

>> May 9, 2017: $2.09/g (U.S. Average: $2.33/g)

>> May 9, 2016: $1.95/g (U.S. Average: $2.21/g)

>> May 9, 2015: $2.40/g (U.S. Average: $2.66/g)

>> May 9, 2014: $3.45/g (U.S. Average: $3.67/g)

>> May 9, 2013: $3.21/g (U.S. Average: $3.55/g)

>> May 9, 2012: $3.57/g (U.S. Average: $3.74/g)

Neighboring areas and their current gas prices:

>> Laredo: $3.92/g, up 21.1 cents per gallon from last week’s $3.71/g.

>> Corpus Christi: $3.92/g, up 27.6 cents per gallon from last week’s $3.65/g.

>> San Antonio: $3.92/g, up 21.0 cents per gallon from last week’s $3.71/g.

“Gasoline and diesel prices alike saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil. In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium.

“While motorists filling with gasoline have seen a slight rise in prices, diesel’s surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods.”

The Associated Press contributed to this report.