EP Has Highest Gas Prices In Texas

HOUSTON (AP) – The slide in crude oil prices translated to a more than 10 percent drop in retail gasoline prices across Texas this week.

AAA Texas on Thursday reported the average price per gallon statewide declined 39 cents, to settle at $2.89.

Nationally, gasoline prices tumbled 32 cents, reaching $3.08.

AAA Texas says the cheapest price at the pumps was in Corpus Christi, at $2.61 per gallon. The highest average price per gallon was $3.21 in El Paso.

Association spokesman Dan Ronan says the dramatic drop is a “continued rollback of price increases driven by oil speculators earlier this year.”

Ronan also says part of the decrease in gasoline prices is tied to the nation’s economic turmoil.

On the Net: www.aaa-texas.org

(Copyright 2008 by The Associated Press. All Rights Reserved.)