Prices at the pump are beginning to fall again as the holiday season fast approaches.
Fuel costs dropped by almost two cents per gallon in the last week for the Houston area, while nationally it fell by more than three cents. The normal price for a gallon of regular in the Greater Houston area is $2.17, while the national average is down to $2.58.
Typically, fuel prices fall late in the year as a result of weaker demand and the switch to cheaper winter-grade fuels.
However, if the U.S and China get to reach a broader trade deal soon, fuel costs would be expected to raise a bit to match anticipated rising global oil demand.
Patrick DeHaan, GasBuddy’s senior petroleum analyst said, “For now, however, gas price relief is the name of the game. Thankfully, ahead of the Thanksgiving holiday, prices appear to be in a downward trend in most areas.”
Some areas in the South, including parts of the Houston area, have gasoline costs below $2 per gallon at select service stations, especially for those willing to pay cash for a discount.