Decline in Gas Prices Slows Down

By Bill O’Neil

Gas prices continue to tumble in San Antonio and across much of the Lone Star State–though the rate of decline seems to have leveled off a bit.

“Statewide in Texas, it’s (the average price per gallon of regular unleaded) down by a penny at $2.03–and then nationwide, it’s about the same as it was last week at $2.24” Daniel Armbruster with AAA Texas told KTSA News.

The San Antonio average fell by two-cents over the last week–putting it at $1.95–among the lowest average prices in Texas right now.

“Today, consumers across the country can find gas for $2 or less at about one out of every four gas stations” Armbruster said.

As for why the price decline has slowed, Armbruster said it’s as simple as supply and demand.

“There have been a couple of rigs that have been take offline–so that is going to bring down the supply just a little bit to get it closer to demand–so we are seeing a slowdown (in the rate of decline) in prices” Armbruster said.

Going forward though, the experts said there doesn’t appear to be any reason in the near term for prices to start pushing back up aggressively.

“Typically after the summer season, gas prices will drop a little bit in the fall, so it looks for now drivers should enjoy some very nice gas prices” Armbruster said.

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