SAN ANTONIO (KTSA News) — Gas prices slipped a bit again this week but, a reversal of that downward trend could be coming.
Joshua Zuber at AAA Texas says U.S. refinery utilization dropped to its lowest rate – 83% and that could force prices to leap in the next week or two.
“Supplies in the region are still strong but refineries are producing at their lowest rate in more than 2 years.”
Part of the reason for the decrease in production is that two major refineries along the Texas Gulf Coast are closed for maintenance.
Motiva’s which turns out 639,700 barrels per day in Port Arthur and Valero’s which produces 300,000 barrels per day in Corpus Christi.
In the past week, average prices in San Antonio have dropped 4 cents in the past week to $2.22.