Despite events in Ukraine and Iraq, gasoline prices have taken a remarkable turn in the United States. Where, you may ask? In the state of Texas.
Gasoline prices in Texas dropped 3 cents this week to $3.23 per gallon, which is significant when you consider that the national average remains at $3.43 per gallon. Beaumont had the lowest gas price this week at $3.18, while El Paso’s gas price remains at around $3.31 per gallon.
Texas gasoline prices seem to be doing well, but the situation remains unchanged in the state of Rhode Island, whose gas prices are unchanged from previous weeks. Rhode Island’s average gasoline price remains at $3.52 per gallon, nine cents higher than the national average. While Rhode Island’s gasoline price dropped 8 cents from four weeks ago, it has remained unchanged for the last week. Gasoline prices for the state are down from 21 cents a year ago, however, which provides some encouraging news.
Within the last few years, events in the Middle East have led to rising gas prices in the United States, with states such as California arriving at the $4+ price range (and states such as Alaska with $5 and up) for a gallon of gas. Southern US states have also seen gas prices rise above $3.50 and $3.60, with local gas stations lowering gas prices in an effort to win customers. With barrels of oil being destroyed at times, gas prices have fluctuated several times within a day. One can go to lunch and see gas prices rise within the hour before returning to work.
Gasoline prices have also increased with holiday travel, seeing that gasoline has been in short supply for the millions of Americans who travel annually. This summer’s US gasoline prices turned out to be a positive change from that of recent years.