Houston-area drivers on average are paying a little more than 2 cents less per gallon than last week, according to gas price-watching website GasBuddy.com’s survey of more than 2,500 gas stations.
The regional average for a gallon of regular gasoline stood at $1.99 as of Sunday. Nationally, the average ticked upward by 0.5 cents to $2.21 per gallon.
Even with uncertainty of what policy shifts could result from the U.S. presidential election, OPEC remains the key in determining pricing trends, GasBuddy senior petroleum analyst Patrick DeHaan said in a statement.
“Whomever is our next Commander-in-Chief, we could see a change to previous energy policy — which could have a negligible impact on gasoline prices — but more focus will be on OPEC’s coming decision to follow through on cutting oil output,” DeHaan said.
DeHaan added that doubts continue about whether OPEC’s members will agree to cuts. West Texas Intermediate crude prices slid last week to their lowest point since late September.
Historically, gas prices trend downward during November, according to GasBuddy.