The trend to buy a gallon of unleaded gas in Houston is definitely going in our favor.
AAA Texas says a month ago we were paying $3.04. A week ago it was $3.02.
We’ve cracked below the $3 mark and the average in Houston now is down to $2.99.
A year ago we were paying $1.76, but a year ago we were at the height of a massive Covid wave and no one was driving home for the holidays. We were all inside and remote work was all the rage.
Daniel Armbruster with AAA Texas suggests keeping your eye on the cost of crude. “The price of crude oil accounts for about 50% to 60% of what consumers pay at the pump, so a lower oil price should translate into better gasoline prices for drivers. However, until global oil production ramps back up to pre-pandemic levels, a recent dip in the price of crude may only be temporary,” he says.
The thing to watch is how news of a new variant of Covid affects crude oil prices and whether oil producers throttle back production in anticipation of another slowdown.
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