Gasoline prices fell in the Houston area again as growing inventories temper the rise in oil prices, according to GasBuddy.com, a website that tracks gas prices and refining activity.
The average price of gas in Greater Houston fell nearly 2 cents a gallon over the past week, slipping to $2.07 Sunday, GasBuddy said. Nationally, the average price fell about a penny a gallon, to $2.26.
Average gasoline prices in Houston are 51 cents higher than a year ago, but 7 cents lower than a month ago. The national average is 52 cents higher than a year ago, 11 cents lower than a year ago.
Patrick DeHaan, senior petroleum analyst for GasBuddy.com, said price declines are normal for this time of year. Buta crude oil glut that became a glut of refined products is also weighing on prices.
“Gasoline inventories have continued to show impressive gains lately, limiting the effects of rising oil prices on gasoline prices for the time being” he said.