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Gas Prices In Texas Drop, Just In Time For Christmas

By CICELY MITCHELL, CBS Houston
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(credit: Getty Images)

(credit: Getty Images)

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HOUSTON (CBS Houston) Retail gasoline prices in the state of Texas have dropped six cents this week as millions prepare for Christmas travel.

According to AAA of Texas, on Wednesday reports indicated that the average price of gas fell to $3.03 per gallon. Across the nation, retail gasoline prices fell seven cents to $3.23 per gallon.

Additional reports revealed that the city of Fort Worth in Texas had the cheapest gas; prices at the pump there were averaging $2.98 per gallon. For the most expensive gas in the Lone Star State, the city of Amarillo holds the title with gas averaging $3.10 per gallon.

Around the Houston metropolitan area, consumers filled their tanks with gas that was $2.98 at some gas stations located near the famed Galleria area. Other stations across Houston offered gas at less than $3.00.

According to experts, the reason for the decline in gas prices is attributed to several factors. Those include: lower demand, cheaper crude oil prices, economic concerns, and increased inventories.

AAA Texas predicts that approximately 7.7 million Texans will hit the road during the 11-day holiday period that spans from Saturday December 22, through Jan. 1, with most Texans traveling by car.

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