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Gas prices continue downward trend

Contact Chris McGuinness at chrism@kdhnews.com or (254) 501-7568. Follow him on Twitter at ChrismKDH.Posted

Fuel prices at some Killeen gas stations have once again dipped below $3 per gallon.

A popular gas-price tracking website, Gasbuddy.com, showed at least 18 local gas stationS in the Killeen area fell below the $3 mark as of Friday.

The lowest prices appeared to be hovering at $2.97 per gallon of regular gasoline.

Those include two Valero “Corner Store” locations on Rancier Avenue, as well as “Corner Store” locations at 4807 Martin Luther King Jr. Blvd. and 1801 S. W.S. Young Drive.

H-E-B also was selling gas for $2.97.

Several other stores in the area were selling gas for $2.99 Friday.

According to data from the U.S. Energy Information Administration, the monthly average prices for sales of gasoline have been falling since September.

The average retail sales price for motor gasoline decreased 3.9 cents to $3.058 per gallon, while the average wholesale price declined 9.8 cents to $2.792 per gallon, according to the administration’s December report. The price of oil slid below $97 a barrel Friday on the possibility of new supplies from Libya and expectations the Federal Reserve will cut its stimulus program.

Benchmark U.S. crude for January delivery dropped 90 cents to $96.60 a barrel on the New York Mercantile Exchange.

For the week, oil fell $1.05 a barrel.

The Libyan militia that shut down most of the country’s oil terminals for months said the terminals will reopen Sunday.

Libya has been losing millions of dollars every day after production dropped from 1.4 billion barrels a day to around 250,000 barrel a day since the closure.

The Associated Press contributed to this report.

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