Gas under three dollars becomes more than just a fantasy for East Texans - - Tyler, Longview, Jacksonville |ETX News


Gas under three dollars becomes more than just a fantasy for East Texans

Many of us are seeing gas prices under the $3.00 mark today. That's welcomed relief during this troubling time. KLTV 7's Courtney Lane shows us why we're seeing this trend and how it compares to what we saw just a few months ago.

Across East Texas, gas prices are dropping lower and even lower. One of the cheapest prices we found was $2.97 in Lindale. It's definitely some good news during this economic crisis that even had some East Texans jumping up and down.

"I guess now I can buy gas to go to work at least," said Chris Miller.

"I had heard that I could get it yesterday for 2.99 and then today it's 2.97...That's wonderful," said Marion Spradlin today.

The reason for the savings? A drop in demand, plus increased production at Gulf Coast refineries which have recovered from the hurricanes. That's the opposite of what Chris Miller of Missouri was expecting.

"I thought coming down for the week I was going to be paying 4 dollars a gallon probably down here because of the hurricanes and everything. I was like...I'm so excited," she laughed.

The plummeting prices caused East Texas gas stations to fill up today.

"This is really great here so I had to stop; couldn't pass it up," said Corline Allen.

"It's been a long time since I've seen gas under 3 dollars and I'm excited about it...Yay," said Kendrix Gentry.

It's a much different tune than we heard from East Texans just months ago, when prices were creeping toward four dollars.

"It's's outrageous."

"[I] can't do any traveling; can't do nothing."

Today diesel prices remain painful.

"It's under 3 dollars but not the diesel; it's not good for me," said Sandro Arteaga.

Still, diesel is dropping as well. Oil analysts predict prices on the grocery aisle will be slashed if the trend continues.

"I'm praying that our economy can stabilize," said Marion.

Prices are down all across the country. Sweet crude oil dropped today to about $78 a barrel. That, compared to $120 a barrel nearly 2 months ago.

Courtney Lane, reporting.

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