Houstonians Are Now Paying Less For Gas
by: Gail Delaughter, May 21, 2012 6:05:00 pm
Analysts say Houston gas prices have fallen this week by six-and-a-half cents, averaging $3.56 a gallon. Prices are now close to .18 ¢ lower than they were this time last year, and nearly .26 ¢ lower than a month ago. GasBuddy.com's Gregg Laskoski says the reason for the drop is high inventory.
"We're seeing crude oil come down significantly, $92 a barrel, and it could go lower."
And as for why gas inventories are high, laskoski cites figures from the U.S. Labor Department showing a lot of people are still out of work.
"Had those numbers been more encouraging, I think you'd hear analysts say because of more jobs being created we can anticipate an increase in demand because more people are going back to work means more people commuting and using gasoline."
Laskoski says we could see lower prices for the Memorial Day weekend with the Houston average between $3.40-$3.45 a gallon.