Expert: Dropping gas prices expected to go down a few more cents

The price of gas is falling and is going to keep getting cheaper. How low will it go? We talked to an expert to find out
November 7, 2013 8:31:19 PM PST
Good news for drivers: The price of gas is falling and is going to keep getting cheaper. How low will it go? We talked to an expert to find out

Dorina Cole doesn't mind driving around Houston now that gas prices are falling.

"Right now the prices are going down, which is helping me financially right now because I am unemployed. I only have a part time job so every little bit helps," said Cole.

Prices will keep falling, according to Houston energy expert Andy Lipow.

"I am expecting gasoline prices to come off just another 3 to 5 cents. We've seen a big decline over the last couple of months and now we are stabilizing going into the holidays," said Lipow.

Lipow says Texas oil production is booming, and that supply is a driving force behind falling gas prices.

"U.S. oil production is now at its highest level since 1989 and we are now adding to world supply," said Lipow.

The folks at AAA Houston say with oil production up in Texas, gas prices in the state are far below national averages.

"Another thing that is happening specifically around this time of year we transition from a Spring Summer blend, which is more expensive to refine and produce to a Winter Fall blend," said Sarah Shimmer from AAA Houston.

The Houston average for gas is $2.96 a gallon, but with a gas reward card from Kroger, we managed to fill up at Spring Cypress Road and Highway 290 for just $2.53 a gallon.

On the other end of the scale, we found the highest price for gas in Houston at Memorial near the Beltway. Gas there cost us $3.39 a gallon.

You can use Gasoline pricing Apps to find the cheapest fuel around you.

Find Jeff on Facebook at ABC13JeffEhling or on Twitter at @jeffehlingabc13


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