Houston Gasoline Prices Fall By Another Nickel
by: David Pitman, June 21, 2012 2:06:00 pm
For the tenth week in a row, drivers are paying less to fill up their tanks than they were just seven days ago. Doug Shrupe is with AAA Texas.
"In the Houston area, drivers are now paying about $3.30, on average, for a gallon of regular unleaded. That's down a nickel from last week, and down 21 cents from this time a year ago."
The price of crude has dropped $20 a barrel in recent weeks over uncertainties in the domestic and global economies. Shrupe says that cheaper crude is still working its way through the system.
"There are some economic factors that are playing into this, in terms of the growth in the economy. So these prices are still going down week-by-week, based on the economic fears that some are having."
Shrupe says it's difficult to say right now whether prices will continue their two-and-a-half-month slide. He says crude oil prices appear to have stabilized over the last week or so, and that could slow down the rate of decline at the pump.