Gas Prices Plunge In Texas, Thanks To Superstorm Sandy

IRVING (November 1, 2012)--Gas prices are sharply lower this week in Texas, and analysts say the drop in part is a result of falling demand because so many vehicles and airplanes on the East Coast were idled by Superstorm Sandy.

The AAA-Texas survey released Thursday found that the average cost of a gallon of regular unleaded gasoline fell to $3.30 in Texas.

AAA-Texas said demand for gas in the days after the storm was expected to be nearly 25 percent lower than normal for this time of year.

While the storm did stop or slow production at some refineries, analysts say gas prices will continue to drop as long as production picks up as expected.

The most expensive gas in Texas was in El Paso at $3.43, while the cheapest was in Beaumont at $3.23.


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