Gas Prices Drift Downward in Texas as Supply Increases

posted by 1200 WOAI - 

San Antonio continues to have the lowest gas price in the state, as prices across Texas begin to fall, as we pass the traditional high point of the year for gas prices, News Radio 1200 WOAI reports.

AAA Texas says San Antonio prices this week average $2.53, that is unchanged from last week.

The statewide average of $2.63 is down three cents from last week.Crude oil supply is starting to keep pace with demand, meanwhile oil prices dropped slightly week-to-week. This trend is forcing retail gas prices to continue to fall across Texas.

AAA Texas says the second week of July is historically the time of the year's highest gas price.  In fact, last week marked ten years since San Antonio reported its highest gas price ever, an average of $3.96 in the second week of July, 2008.

Rising inventories and rising pumping, along with lower demand as we head toward the start of the school year, are expected to continue pushing gas prices down slightly over the coming month.

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