After a decline of more than 7% for oil prices on Monday, Dallas-Fort Worth drivers now wait for the other shoe to drop.
West Texas Intermediate crude futures were slightly higher Tuesday morning, after settling down 7.51% at $66.42 a barrel to open the week. Monday's close on the Sept. 2020 oil contract represented a fall of more than 13% from the six-year high of $76.98 touched just two weeks ago.
GasBuddy Head of Petroleum Analysts Patrick DeHaan told KRLD the drop for oil represents "light at the end of the tunnel" for North Texas motorists after a year of sharply higher gasoline prices. He said, "There's a potential that we could drop 10-to-20 cents a gallon over the next two to three weeks, if the market doesn't start to see a recovery."
And, with the summer driving season starting to wind down, DeHaan added gas prices may have peaked for 2021. He spoke with KRLD's Chris Sommer.
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