Gas Prices Hover Near $2 In Nine Cities

By Douglas A. McIntyre Updated Jan 12, 3:51PM EST · Published Jan 15, 6:49AM EST

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[cnxvideo id=”625488″ placement=”ros”] Empty Gas Station

Gas prices have reached $2.34 for a gallon of regular and are moving higher from $1.93 a year ago. However, in nine cities, the price is barely above $2. All are in Texas, Oklahoma, South Carolina, and Tennessee.

The nine cities and their prices are Lubbock TX at $2.07, Knoxville TN at $2.08, Chattanooga TN at $2.08, Amarillo TX at $2.09, Oklahoma City OK at $2.09, San Antonio TX at $2.09, Spartanburg SC at $2.09, Columbia SC at $2.09, and Tulsa OK at $2.09 according to GasBuddy. South Carolina, Oklahoma, and Tennessee have the lowest gas prices among the states.

For the most part, these cities have not been hurt as badly as others in the U.S. by rising oil prices. Crude oil prices are at $53, up from $45 in early August. Oil prices continue to be the largest component in gas prices, by far.

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Among the important advantages for some of the nine cities have is proximity to refineries. Texas and Oklahoma are near the refineries south of Houston on the Gulf of Mexico.

Another substantial advantage for the cities is that they are in states with low gas taxes and levies. South Carolina has the second lowest gas taxes among the 50 states, just above Alaska, at $.3515. Oklahoma is third at $.354. Texas is eighth at $.384, Tennessee is tenth at $.398. The national average is $.4944. The state with the highest gas taxes is Pennsylvania at $.766.

Gas prices may continue to surge toward $2.50. However, drivers in these nine cities will likely enjoy prices which continue to be at the low end of the spectrum

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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.