Gas prices continue to fall in San Antonio, U.S.
Gasoline prices in San Antonio and across the country continued to fall last week alongside crude oil prices on news of higher inventories and concerns about a global economic slowdown.
The average price for a gallon of gasoline in the San Antonio area fell 1.4 cents to $2.48, while the national average dropped by about 3 cents to $2.82 a gallon, according to GasBuddy, which tracks fuel prices nationwide.
In San Antonio, gasoline prices are 44 cents higher than at this time last year. Nationally, prices have increased by nearly 51 cents during the same period.
The average price for a gallon of gas fell to $2.53 in Laredo, down from $2.56 last week. In Corpus Christi prices averaged $2.54 per gallon, unchanged from last week.
In Austin, a gallon of gas cost an average of $2.58 per gallon, down from $2.59 last week.
Early last week, crude oil prices fell when OPEC reported that it had lowered its expectations for oil demand growth next year. The Energy Department then reported a jump in domestic crude inventories, pushing the U.S. and international benchmarks lower.
Patrick DeHaan, head of petroleum analysis at GasBuddy, said he expects prices to continue to fall this summer. Labor Day, he added, could prove to be season’s least expensive driving holiday.
“As we race towards summer’s finish line, we may see more pessimism weigh on oil markets,” he said.
Rye Druzin covers energy news in the San Antonio and Bexar County area. Read him on our free site, mySA.com, and on our subscriber site, ExpressNews.com. | email@example.com | Twitter: @druz_journo