Gasoline Prices Drop 7 Cents in a Week
By BJ Austin
Dallas, TX – Gasoline prices averaged a penny-a-day drop in the latest Triple-A weekly survey. Drivers may still feel the pinch, but the price is BELOW the dreaded four dollar a gallon mark.
Gasoline prices across Texas are an average $3.92 - seven cents lower than the Triple-A survey the week before with the average price of a gallon of regular at $3.99. Dan Ronan, with Triple-A Texas, says NATIONALLY, the drop is even greater: 9 cents a gallon from $4.11 to $4.02.
Ronan: I think the key to this is the price of crude continues to fall pretty significantly. In just the last two weeks it's dropped 20 dollars a barrel, or 14%, and finally the price at the pump seems to be catching up with the activity that's taking place on the trading floors.
Ronan also says the high price of gasoline has reduced demand somewhat and that puts downward pressure on the price. He also says urricane Dolly by-passed the oil rigs off the Texas Coast. He says a disruption in production could have quickly boosted the price of crude and put the brakes on the downward momentum at the pump