99 Cent Gas in Texas

By Douglas A. McIntyre Updated Jan 13, 12:57PM EST · Published Feb 20, 9:40AM EST

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In Burnet, Texas, a city of nearly 5,000 people far northwest from Austin, the Exxon station at 2751 SH-29 is selling gasoline from 99 cents a gallon. Against a national price of nearly $1.75 for a gallon of regular, the price is 57% of the national average.

Texas has 10 of the 50 stations in the United States with the lowest gas price. However, Oklahoma and Missouri have more, and Arizona nearly as many. The stations in Texas are not clustered. The town with the next lowest gas price is Lake Jackson, at $1.05, which sits very near the huge refinery cluster on the Gulf of Mexico and south of Houston. Another is in Cuero, in the middle of nowhere, far southeast of San Antonio, according to GasBuddy.

Texas does not have the lowest gas price among all states. But at $1.52 a gallon, it is below average prices in Oklahoma, Missouri, Kansas, Arkansas, South Carolina and Mississippi.
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Despite a 13% spike in the price of crude since last Friday, oil remains near multiyear lows, having tumbled to below $31 a barrel again Thursday. The price of crude has a 52-week low of $26.05 and 52-week high of $65.69. An agreement among several producing nations to cap production at January levels is not helping boost prices significantly. Demand is slack worldwide, to some degree because of the slowdown in the Chinese economy.

Another contributor to gas prices is state and federal taxes that affect gas prices from state to state. According to the American Petroleum Institute, the national average is $0.48 per gallon. Texas is near the bottom of the list at $0.384. Oklahoma is at $0.354 and Missouri at $0.357. 24/7 Wall St. recently analyzed states with the highest and lowest gas taxes.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.