Pump prices are falling

Gasoline prices are at their lowest level since early July and are expected to fall further, according to an analysis from GasBuddy.com.

The national average for a gallon of regular is $3.47, down 34 cents from a year ago, according to AAA.

The average price for a gallon of regular in Houston is $3.23, down 37 cents from a year ago, according to AAA data.

Pump prices: US gasoline prices reach milestone

Because refineries are running at high rates and consumer demand likely will be down from last year, prices will continue a gradual decline, GasBuddy.com Chief Oil Analyst Tom Kloza said in an email.

Several refuelling stations in Houston are currently offering gasoline for less than $3 a gallon, according to data on GasBuddy.com.

The falling prices for U.S. gasoline is coming as oil prices remain high, above $103 a barrel on Monday for West Texas Intermediate domestic crude.

If oil prices fall, that will push gasoline prices even lower, Kloza said.

Also on FuelFix:

Pain at the pump? Smile. At least you don’t live in Norway.


About The Author

Zain Shauk covers energy for the Houston Chronicle. He can be reached by phone at 713.362.7572 or through his email address: zain.shauk@chron.com. Follow him on Twitter: @ZainShauk