San Antonio's gas prices remain the lowest in the state, and among the lowest in the country, as we approach the Christmas holidays, News Radio 1200 WOAI reports.
AAA Texas says the average price of gas in metro San Antonio today is $2.16, which is down a penny in the last week. That compares to a statewide average of $2.27, and a nationwide average of $2.49.
Analysts say refining capacity in this region is gradually returning to full production after the devastation of Hurricane Harvey, with production increasing by some 100,000 barrels per day since the storm hit in late August.
"Year end pump prices are expected to be the highest since 2014," AAA Texas' Daniel Armbrister said. "While prices are trending down across the state, average prices today are 34 cents a gallon higher than they were one year ago today."
Analysts cite the production lapses caused by the busier than normal Gulf Hurricane season, as well as attempts by OPEC to manipulate production to raise world oil prices.
But that will lead to higher shale oil production, which will keep a lid on price incrases.
Barring some unexpected incident, we should be down under $2 a gallon here in San Antonio before prices bottom out, which usually occurs in early to mid February.