GAS PRICES

The average price for a gallon of regular unleaded gas was $2.40 in the Killeen-Temple-Fort Hood area on Saturday, which is 7 cents less than this day last week and 18 cents more than the price per gallon at this same time last year, according to the AAA Texas Weekend Gas Watch.

The statewide gas price average in Texas is $2.45 for a gallon of regular unleaded fuel, according to the AAA Texas Weekend Gas Watch. That price is seven cents less than this day last week and is 17 cents more per gallon compared to this day last year. Of the major metropolitan areas surveyed in Texas, drivers in Midland are paying the most on average at $2.97 while drivers in Sherman-Denison are paying the least at $2.26 per gallon.

The national average price for a gallon of regular unleaded is $2.73, which is six cents less than this day last week and 18 cents more than the price per gallon at this same time last year.

This price drops are happening at a time that market analysts previously thought would likely see pump price increases due to the White House’s re-imposition of sanctions on Iran, some of which will target the country’s energy sector and impedes its ability to export oil. This was expected to have a potential large impact on global supply and demand. However, in May, when the decision was announced (to take effect in November), the market reacted quickly with crude oil prices spiking as high as $77 a barrel this summer. At the same time, Iran’s exports began to dip. Today, they are reported to be about 1million barrels per day fewer than in May while crude oil prices have stayed below $70 per barrel for two weeks. That being said, should any factors cause an upward shift in crude oil prices, the cheaper gas prices would likely be a temporary trend.

“With the market anticipating and reacting to the pending Iran sanctions throughout the summer they have remained calm and drivers continue to see gas prices falling across Texas,” said Daniel Armbruster, AAA Texas/AAA New Mexico spokesperson. “With Thanksgiving around the corner, motorists could pay the lowest prices for gas since April just as millions of Texans will drive 50 miles or more to their destination.”

Nearly half of the country’s top 10 states with the largest weekly decreases are South and Southeast states. As gas prices drop, they are shrinking the year-over-year difference in price.

In Killeen, Walmart Neighborhood Market at 3801 E. Stan Schlueter Loop had the cheapest gas for $2.15 a gallon, according to GasBuddy.com Saturday afternoon. H-E-B at 2511 Trimmier Road and Walmart at 2900 Clear Creek Road sold gas for $2.16 a gallon.

In Harker Heights Saturday, Sam’s Club at 600 W. Central Texas Expressway sold the cheapest gas for $2.12 a gallon. Murphy USA at 2010 Heights Drive and Walmart at 960 E. Farm-to-Market 2410 sold gas for $2.15 a gallon on Saturday.

In Copperas Cove, Murphy USA at 2712 E. U.S. 190 sold the cheapest gas for $2.27 a gallon. H-E-B at 2990 E. U.S. 190 sold gas for $2.28 a gallon, and Stripes at 1262 U.S. 190 sold gas for $2.29 a gallon.

mpayne@kdhnews.com | 254-501-7553

Herald staff writer

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