Gas prices in Odessa

Gas prices in the Midland-Odessa area have increased by 18.5 cents per gallon over the past week, averaging $3.08, while remaining lower than both a month and a year ago. Nationally, gasoline prices have decreased by 3.5 cents to an average of $3.44, attributed to falling oil prices amid economic concerns following a poor jobs report. In the Midwest, refinery outages are causing price spikes, especially in states like Illinois and Michigan, where prices have neared $4 per gallon. Meanwhile, lower demand and oil prices have led to a general decrease in gas prices across other regions. Analysts predict potential further reductions in prices as crude oil continues its downward trend. However, geopolitical tensions in the Middle East could impact future price stability.