Temperatures rise, San Antonio gas prices fall in unusual summer slide

SAN ANTONIO (KTSA News) — We usually see gas prices climb as the summer travel season gets underway but AAA Texas is reporting the exact opposite is taking place.

We’re down two cents in San Antonio to an average of $2.27 since last week but what’s more impressive, is the comparison to what we were paying a year ago when the statewide average was closing in on $2.60 a gallon.

“Drivers are saving at the gas pump during the busiest time of year for travel,” said Daniel Armbruster, AAA Texas spokesperson. “The average Texas family will save more than four dollars per tank, compared to this time last year.”

The lower prices are due to the amount of gasoline being produced recently.

The latest Energy Information Administration report reveals that total domestic gasoline inventories jumped a million barrels last week.

But as regional gasoline prices drop, the same can’t be said for crude oil.  AAA says the attack on two oil tankers in the Gulf of Oman have contributed to a cost increase.

This attack heightened market fears that rising tensions could continue in the Middle East and negatively impact crude oil availability. Approximately 20% of global crude supplies flow through the waterway.

 

 

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