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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.

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

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