Texas Gas Prices Falls Below $3 for the First Time Since January

Larry Lease

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Gas prices across North Texas are finally falling.Photo byYassine Khalfali/UnsplashonUnsplash

As millions of Texans hit the road for the Thanksgiving holiday, drivers are seeing some relief at the gas pump. Fox 4 reports that the average price for a gallon of regular gas is $2.97, down 13 cents from last week and 4 cents less than a year ago.

Texas now has the cheapest gas in the country. Nationwide, the cost of a gallon of gas sits at $3.64. This is the first time the state gas price has fallen below $3 a gallon since mid-January. For many drivers, the falling prices are a reason to give thanks. One local resident on the road this Thanksgiving, Christopher Anderson, told Fox 4 that it helps him save money and afford more gifts for the family.

Just one year ago, President Biden announced the released oil from the strategic petroleum reserve as prices were skyrocketing. Then just this past month, he authorized a release of another 15 million barrels. Richardson resident Zach Nuss told Fox 4:

"It is nice that it's going down a little bit for a change, but at what cost? More strategic reserves being released, elections just come up. It's nice, but it will go back up, I think,"

Fox 4 reports that market analysts saying the declining prices are due to the sinking oil prices. West Texas Intermediate crude oil has been selling for less than $80 a barrel, a first since the beginning of 2022. Fox 4 says that 4 million Texans are expected to travel at least 50 miles away from their home this holiday season.

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I specialize in crime, entertainment and political stories. I have spent eight years as a freelance writer and journalist.

Dallas, TX
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