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Gas Prices Edge Downward

By BJ Austin, KERA News

Dallas, TX – Gasoline prices are trending downward ahead of Memorial Day Weekend and the start of the summer vacation season. KERA's BJ Austin reports.

The average price of a gallon of unleaded regular a gasoline is $2.79 statewide. It's more expensive in North Texas by a couple or three cents: $2.81 in Dallas, a penny less in Fort Worth. But, that's a drop of four cents from the previous week. Dan Ronan, with Triple A Texas, says prices are dropping because the price of a barrel of oil has sharply declined by 10-12 dollars a barrel.

Ronan: Some analysts are saying we should see oil at 70 dollars a barrel this summer. And if that's the case, retail gasoline prices have nowhere to go but to follow the price of oil.

Ronan says in nine of the past ten years, gasoline prices peaked in spring, and declined for the traditional summer driving season.

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