Gas Prices Continue Plummet - KLTV.com - Tyler, Longview, Jacksonville |ETX News

01/23/07-Tyler

Gas Prices Continue Plummet

You've no doubt felt a little less pain when you top off the gas tank. Prices at the pump have plummeted over the past several weeks, and that has even surprised many experts.

The national average is $2.16 a gallon, and the average price in Texas is now at $2.06 as surveyed by Triple A.   Prices in East Texas are in some cases, under $1.90 per gallon.

Experts say a reduction in global unrest has helped calm market jitters.  Here at home, many stations have regular unleaded at remarkably low prices, with prices sometimes changing several times a day.  

"Information and understanding the market, and these organizations are assigning people to watch [price fluctuations].  Then, the competitiveness and number of stations we have and outlets, and that's driving a more instantaneous response to the marketplace," says Dr. Jim Tarter, Dean of the College of Business and Technology at the University of Texas at Tyler.

Tarter says don't get used to these low prices.  Any problems with refineries, higher global tension, or more severe winter weather could cause gas prices to jump again.

Morgan Palmer, Reporting morganpalmer@kltv.com

Powered by Frankly