Gas price war erupts on Houston's south side

The station supervisor at the Chevron told ABC13 they dropped prices in response to the Texaco lowering prices - they kept going until the prices hit 79 cents.

So, about all those warnings from petroleum analysts predicting gas prices would rise 30 cents per gallon by the end of March?

The overall drop in oil prices last week was glaring: for the first since time November, crude oil prices traded under $50 per barrel, almost a 10% week on week decline in price.

Consumers could see a 10-cent drop in retail gasoline prices before a sharp rise expected by Memorial Day, according to AAA.

Enid gas prices range from $1.94 to $2.39 on average in the last day or so. Almost 10% of USA gas stations charged less than $2.00 a gallon, as of Monday morning. This compares with the national average that has fallen 1.3 cents per gallon in the last week to $2.29/g, according to gasoline price website GasBuddy.com.




In metro Albany, drivers were paying $2.113 Monday, also down a half-penny in a week and seven-tenths of a cent more than February 13.

That's mostly because refineries across the nation are preparing to undergo seasonal maintenance to produce cleaner-burning gasoline for the summer.

On Friday, a barrel sold for $48.49, the lowest price since November.

"The oil market suffered a "mini collapse" last week, following reports of a record build in domestic crude oil", AAA spokesman Mark Jenkins said.

DeHaan said he remains optimistic that the annual spring rally at the pump could be less severe than expected, but added that is remains hard to know where the new path will lead oil prices in the week ahead. So far, the average has remained steady at about $2.28. Ohio's prices dropped 7.4 cents per gallon from the previous week. That did not happen, with the US average falling 2 cents a gallon in the last week to $2.29 this morning. At this time in 2016, the state average was $1.912.

(Copyright © 2015. All Rights Reserved.)
 
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