Gasoline prices in Dallas have recently dropped, following a decrease in the cost of oil. Prices are now nearly 40 cents lower than they were a year ago. Concerns about a potential Israeli attack on Iranian oil facilities have been a factor in recent oil market fluctuations, but it appears that this threat is no longer being considered. As a result, the risk associated with oil has decreased, and with continued economic weakness in China, oil prices have slipped below $70 per barrel. GasBuddy analyst Patrick De Haan believes this could lead to a longer decline in gas prices, potentially returning to the national average.
In Dallas, gas prices are currently at $2.76, slightly above the Texas average of $2.75. However, the price has increased by 5 cents in the past week, but has decreased by 25 cents compared to a year ago. The most expensive gas prices are found in Lihue (Kauai), HI at $5.24, while the least expensive can be found in Lubbock, TX at $2.63.
This data was compiled by Stacker using information from AAA as of October 21. This article is part of a series that utilizes data automation across 371 metros. The drop in gas prices in Dallas reflects broader trends in the oil market, influenced by geopolitical concerns and economic factors.
Source
Photo credit www.fox4news.com