Gas prices fall in Texas after rise in USA
May 7, 2011 | Energy, Environment, Travel
Gasoline prices around the country has dropped significantly in the past week, after a recent sharp rise that was attributed largely to rising crude oil prices. Also causing the rise of oil prices are the upheaval in Egypt.
The average pump price for a gallon of regular gasoline was $2.92 Thursday, according to auto club AAA, Oil Price Information Service and Wright Express. That’s a nickel lower than a week ago. This is great news since the price of oil has climb steady for the last three months.
The Fort Worth-Arlington average is 3 cents below the average Texas price of $2.95 and 18 cents below the U.S. average of $3.10.
Just two weeks ago, Fort Worth-Arlington had the highest average regular price of any metro area in Texas. Fort Worth-Arlington and San Antonio are now tied for the lowest price, while Texarkana has the highest, $2.97.
The moderation in prices could be driven somewhat by a U.S. Energy Department report showing a much larger than expected inventory of both gasoline and crude oil, said Dan Ronan, a spokesman for AAA Texas/New Mexico.
Despite the recent decline, United states gas prices are still 40 cents higher than they were a year ago.
This article was written by: Dennis Micheals
