The existing record for the all-time high average gasoline price in Texas, $4.29 a gallon, has stood since Friday. It may not seem like a big deal, but after recently breaking that mark day after day, at least it's something.
According to AAA, the statewide average on Monday was off eight-tenths of a penny from the mark established late last week, putting the current figure at $4.285 per gallon.
Gas Buddy Head of Petroleum Analysis Patrick DeHaan told KRLD News the apparent stabilization in pump prices has come as wholesale gasoline prices have leveled off. The Dallas-Fort Worth average for regular unleaded was up 18 cents last week to $4.37, but DeHaan said with the absence of any big market mover for oil, gas prices should hold steady or even fall slightly ahead of Memorial Day weekend.
Meanwhile, oil prices remained over $111 at mid-morning Monday. DeHaan said recent price levels for West Texas Intermediate Crude have supported new exploration, with weekly U.S. rig counts rising slowly, but steadily. He said that is good news for oil and gas producers in Texas and across the nation.
DeHaan spoke with KRLD's Chris Sommer.
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