IRVING, TX -- 08/07/08 --
Gasoline prices fell another 7 cents last week
in Texas as the average price for a gallon of gasoline dropped below $3.74
a gallon. That's down nearly a quarter from the record average high of
nearly $3.99 a gallon on July 17th. Nationally prices fell to $3.85 a
gallon, down 26 cents a gallon since the high of $4.11 a gallon, also on
July 17th.
Corpus Christi has the least expensive gas in Texas at just below $3.68 a
gallon, down almost 8 cents in one week. El Paso once again has the most
expensive fuel at a fraction above $3.80 a gallon. This is a drop of 6
cents since last week, but that's the smallest decrease in the state.
"As the price of crude oil continues to drop, drivers nationwide and in
Texas are beginning to really see the benefits. Prices have fallen by
about a quarter nationwide and by about the same amount in the state. This
means that a motorist who purchased 15 gallons of gas at $3.99 a gallon can
now expect to get 16 gallons for the same total cost. All of the great
work done by motorists this summer to conserve fuel and consolidate trips
appears to be paying off," says AAA Texas Corporate Communications Manager
Dan Ronan.
Earlier this week, the federal Energy Information Administration reported a
much larger than expected increase in crude oil supplies, and it's another
indication that higher fuel costs and the slow United States economy have
curtailed the demand for gasoline. During the first week of August, crude
oil inventories increased by 1.7 million barrels, well above expectations
of a build up of 300,000 barrels.
Record Record
1 Week Year High High
Current Ago Difference Ago Difference Date Price
-------- ------- ---------- -------- --------- -------- ------
08/07/08 7/31/08 Difference 08/07/07 Difference Date Price
National 3.849 3.909 -0.060 2.821 +1.028 07/17/08 4.114
State 3.737 3.808 -0.071 2.744 +0.993 07/17/08 3.985
Amarillo 3.751 3.811 -0.060 2.898 +0.853 07/16/08 3.983
Austin-
San Marcos 3.774 3.842 -0.068 2.774 +1.000 07/17/08 3.975
Beaumont 3.732 3.798 -0.066 2.716 +1.016 07/16/08 4.001
Corpus
Christi 3.677 3.755 -0.078 2.587 +1.090 07/15/08 3.960
Dallas 3.718 3.799 -0.081 2.726 +0.992 07/16/08 3.983
El Paso 3.805 3.863 -0.058 2.816 +0.989 07/17/08 3.967
Ft. Worth 3.701 3.781 -0.080 2.700 +1.001 07/16/08 3.975
Galveston 3.727 3.816 -0.089 2.719 +1.008 07/14/08 3.968
Houston 3.716 3.788 -0.072 2.692 +1.024 07/17/08 3.960
San Antonio 3.729 3.803 -0.074 2.750 +0.979 07/16/08 3.957
Texarkana
(TX Only) 3.697 3.770 -0.073 2.735 +0.962 07/16/08 3.981
Contacts:
Dan Ronan
Ronan.dan@aaa-texas.com
danronan@sprint.blackberry.net
469 221 8217 office
469 583 7070 cell
Anne O'Ryan
O'ryan.anne@aaa-texas.com
512 899 8843 office
512 925 3710 cell
Sonta Henderson
Henderson.sonta@aaa-texas.com
512 444 4757 ext. 224
512 899 8046
