Monday AM October 27th, 2008

"In Texas right now the average price for a gallon of gasoline is $2.55 a gallon. And this is the first time nationwide that all across the board that gas prices have been below $3 a gallon."

Ronan says AAA's National Office believes gas prices nationwide could be as low as $2.50 per gallon before Thanksgiving, and even lower by the end of the year. Americans have been cutting the number of miles they're driving and reducing fuel consumption, but AAA says there could be an increase in discretionary driving because gasoline prices have fallen below the $3 mark.

image of Houston traffic

Another national survey shows gas prices continue to decline, tumbling nearly 53 cents a gallon in the last two weeks. The average price of a gallon of regular gasoline at self-serve stations was $2.78 Friday. Mid-grade was at $2.93 and premium was at $3.05. That's according to the Lundberg Survey of 5,000 gas stations nationwide, released Sunday. Gas was cheapest in Wichita, Kansas, at $2.26 for a gallon of regular. It was most expensive in Anchorage, Alaska, at $3.50.


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