Gas Prices And Demand Down

Gasoline prices are down again in Texas. The statewide average price of gas is four cents cheaper than last week. Laurie Johnson has more on what to expect in the weeks ahead.

It’s common for gasoline prices to drop off a bit after the Labor Day holiday as routines return to normal and kids are back in school.

But that doesn’t mean folks will be able to predict what they’ll be spending on gasoline for the rest of the year.

AAA Texas Spokeswoman Sarah Schimmer says the only certainty in the oil and gas market is its uncertainty.

“It can be difficult for families to determine how to budget appropriately for gas and fuel to get from school, work, extra activities, vacations. But I think everyone knows, especially since the recession began in ’08-’09, the only thing you can count on is the extreme volatility — the high highs and the low lows and you just have to be ready for what happens in between.”

Right now, the statewide average price of gasoline is $3.44 a gallon.

Here in Houston, the average is even cheaper at $3.40 a gallon.

“And what we’re seeing is that the demand for gasoline in the U.S. has definitely decreased. The Mastercard Spending Pulse report showed about a six percent decrease from last week to this week.”

Schimmer says the slower economy, lack of jobs growth and economic uncertainty lead to less demand for oil, which results in lower retail prices.

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Laurie Johnson

Laurie Johnson

Executive Producer for News

Laurie Johnson leads daily news coverage for HPM. She helps reporters craft and sharpen their stories on tight deadlines, with the aim of getting the most relevant and current information into local newscasts. Laurie is a native Houstonian who started her career at Houston Public Media in 2002. She is...

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