Gasoline prices hit 2018 low as 8 just.4 million Texans travel for the holiday season
This may be the cheapest statewide average since July 2017, when Texas also averaged $2.02.
Gasoline prices have mostly followed this year’s yo-yoing crude oil prices. On the summer, oil prices were sitting at a lot more than three-year highs. Now, they’ve dropped to 15-month lows.
Despite fears that sanctions against Iran would cause oil prices to spike, they’ve tumbled and stayed low. And an agreement by OPEC and its own allies to lessen production hasn’t propped up prices around expected.
While that’s put strain on the nation’s growing oil industry — in the Permian Basin &mdash particularly; it’s been very good news for drivers.
In Texas, Midland had the best average price, $2.54. Midland and Odessa were the only real two Texas cities greater than the national average. But their residents are paying significantly less than in the summertime still, when their prices hovered around $3.
Amarillo had the state’s lowest average price, $1.88. And the Texas average was well below the national average of $2.36.