Local gasoline prices average $3.16 a gallon, down another 12 cents over the past week.
Gasoline prices fell for the 12th consecutive week and are nearing an average of $3 a gallon in Houston.Gasoline prices fell for the 12th consecutive week, with gasoline available at some Houston area stations for less than $3 a gallon.
Local gasoline prices average $3.16 a gallon, down another 12 cents over the past week, according to the fuel-price tracking service GasBuddy. The lowest price in the region was $2.79 a gallon. Gas prices here are 44 cents a gallon lower than a month ago, but 45 cents higher than a year ago. Nationally, gasoline fell 8 cents to an average $3.75 a gallon, down 30 cents a gallon from a month ago, but 58 cents higher than a year ago.Gasoline has largely followed the decline in crude prices. Oil lost more than 6 percent last week, but rallied Monday after OPEC said it impose a small production cut. Oil was down slightly early Tuesday, trading at about $86.65 a barrel.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the decline in prices is the longest since 2018. Markets remain unsettled, and several factors could send prices rising again, including the OPEC production cuts and hurricanes moving through the Gulf of Mexico. But he added, “We do switch back to cheaper winter gasoline in just over a week which should provide some additional relief."
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