Gas prices have dropped about $0.40 over the past two weeks in Dallas, Texas. Two weeks ago, gas prices in north Dallas were about $4.84. Now, average prices are about $4.44.
SMU economist said:
"We’re probably going to be living in this range of high gas prices, you know, for certainly through the summer and probably through the rest of 2022."
The war between Russia and Ukraine caused gas prices to rise to all-time highs this years.
EU nations receive gas from Russia and sanctions against the country have caused them to look elsewhere. But this comes back to supply and demand.
Kate Dourian said:
"It would have to turn to producers such the US and Qatar, which would ship liquefied natural gas (LNG) in tankers."
"But there aren't enough LNG terminals in Europe. This is will be a problem for Germany, particularly. It simply doesn't have the equipment to unload it."
Some Dallas residents were not convinced by the recent low prices.
Oil and gas producer in Dallas CEO King Operating Jay Young said:
"I think this is more of a head fake. Don't go into the summer or the fall and think, 'Oh, we fixed our problems'."
"I'm glad prices are going down right now, but I can't see prices continuing to go down, because we're not drilling for oil and gas as much as we were before the pandemic."
3 Proven Ways to Use Less Gas
WFAA ran an experiment to show how you can use less gas while driving. They completed two 50-mile road trips on US 75 from the Buc-ee’s in Melissa to FM 1417 in Sherman. Each trip used two different examples.
One car was full of items and had lower air pressure in the tires. Also, the driver drove faster than in the other example.
The second car had nothing in the car, the tires were inflated to the maximum amount, and it drove 5 - 10 miles below the speed limit on cruise control.
Here are the results:
1. Fill up the air in your tires.
2. Take extra things out of your car to reduce the weight.
3. Drive at or below the speed limit and use cruise control if possible.
The first trip was faster, heavier, and used 2.1 gallons of gas costing $9.31.
However, the second trip was lighter, slower, and used 1.3 gallons costing $5.94.
Do these tips help you?