Gas Is Relatively Cheap and the Price Is Still Dropping

The price of regular gasoline continues its downward spiral, with prices that continue to drop leaving the state as one of the top states for low-priced gasoline.

"There's one Buc-ee's at Eagle Lake in Texas where the lowest gas price is $2.09, but that's the closed we are so far to dropping below $2 a gallon," according to Patrick De Haan, head of petroleum analysis at GasBuddy.

"The Texas statewide average is $2.59 a gallon, that's unlikely to get down to $2 a gallon anytime soon," he says, adding that while $2 gas is possible, it's not likely on a widespread basis this year.

"I don't want to dash anybody's hopes but the sub-$2 prices may be more like the needle in the haystack than available at every street corner."

"I think for a majority of Texans we'll probably see prices fall maybe another 5-to-15-cents before Thanksgiving."

But we're already into the fall driving patterns, so drops in price are now dependent upon fluctuations in the price of oil -- still, MarketWatch reports gas prices down to their lowest average price in 4 years.

"So the national average for the next few months will probably be in a range of $2.90 to $3.10 a gallon, still cheaper than it was a year ago, even if it's not by much."

And the price of gas is relatively cheap today. The price for a gallon of regular is about half the cost many Californians are paying.

And in inflation adjusted terms, the nationwide average for gas at $1.22 in 1980 was considered expensive -- that would be $4.36 today.


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