Houston-area gas prices still hover around $2
Monday October 24, 2016
The average price of a gallon of regular gasoline stood at $2.01 on Sunday, about one-third of a cent lower than a week ago. GasBuddy derives its average from daily surveys of more than 2,550 gas stations across the area.
Houston’s average was 8.1 cents higher than one year ago and 7.6 cents higher than a month ago.
The major force that has suppressed gas prices during the past year could reverse during the next month said Patrick DeHaan, GasBuddy’s senior petroleum analyst.
“The trend that has delivered consistently lower gas prices is showing signs of fading away as consistent discussion from both OPEC and non-OPEC members appears to be aligned for a likely production cut at the OPEC meeting in late November,” DeHaan said in a statement.
If the production cut occurs, winter gas prices will remain above last year’s averages, he added.
Houston’s weekly average remains 20 cents below the national average of $2.21 per gallon.