Quiet In The Tropics Means Lower Gas Prices In Houston
by: Gail Delaughter, August 19, 2013 3:08:00 pm
The weekly survey from GasBuddy.com shows Houston drivers are now paying about two cents less for a gallon of gas than they were last week.
The average now stands at 3.39 a gallon. Gas Buddy analyst Patrick DeHaan says that's about 13 cents lower than a year ago.
"A lot of it is absence of activity in the tropics. Last year we had seen a few storms that had threatened Gulf Coast production by this point. This year we haven't seen any sort of threat to the Gulf."
But DeHaan says instability in the Middle East could have an affect on oil markets.
"The situation in Egypt hadn't led to an increase in price to this point. But as I said, with things there seemingly taking a turn for the worst again, we may see prices go up in the week ahead."
DeHaan says gas prices usually drop at the end of the summer driving season because of a lack of demand.