The price of gasoline has fallen by about a nickel in the last week in Texas, according to AAA Texas.
Houston, at $3.65, fell by more than 5 cents since last week. At $3.68 a gallon, Dallas also saw a weekly decrease of more than 5 cents.
In San Antonio, the price dropped by 4 cents to $3.52 a gallon for regular unleaded from $3.56 a gallon one week ago. The average price statewide also is $3.52 a gallon, AAA said.
The price of gas is falling along with the cost of crude oil, AAA said. Crude fell $4 a barrel to an average $93 in the last week, and has declined $20 a barrel since hitting a high of $113 a barrel in late April.
Also, data released by the Federal Highway Administration indicated that vehicle miles traveled during April 2011 were down 2.4 percent compared to the same month last year.
The decline is widely attributed to the spike in crude oil prices beginning in mid-February that set off the rapid rise of gasoline at the pump.
“Many oil analysts believe retail gasoline prices may have peaked in early May. Since that time, the average price of a gallon of regular unleaded in Texas has dropped about 30 cents,” AAA spokesman Sarah Schimmer said. “Texas motorists are paying about $50 for an average fill-up.”
