Gas Prices in DFW Dropping

After peaking at end of March, gas prices steadily decline

By Kevin Cokely
|  Tuesday, May 8, 2012  |  Updated 7:12 PM CDT
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After peaking at $3.91 at the end of March, gas prices in Dallas/Fort Worth are have steadily declined.

Kevin Cokely, NBC 5 News

After peaking at $3.91 at the end of March, gas prices in Dallas/Fort Worth are have steadily declined.

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Gas prices continue to spiral downward, not long after everyone thought they were headed to $5 per gallon.

"I think you will see a continual drop for the next couple of weeks," said Ken Morgan, of Texas Christian University's Energy Institute. "I think for the next six months through this year, we're looking at that $3.50 to $4 that it will bounce up through."

After peaking at $3.91 at the end of March, gas prices in Dallas/Fort Worth have steadily declined. Price-tracking site GasBuddy.com found that DFW drivers are now paying on average about $3.57. But a lot of stations are even cheaper than that.

The Valero station at the corner of Cherry Lane and Interstate 30 in Fort Worth dropped prices by 8 cents a gallon Tuesday afternoon.

"Before, also, we had dropped down like 5 cents, but now we are going down to 8 cents," employee Sarba Dhan said. "That's a big drop."

Analysts say lower worldwide demand and higher summer supplies are driving the price drop.

"They got enough refineries producing it (summer blend) and, guess what? We get a little leveling off here and, as a matter of fact, a little drop we've seen at the pump the last couple of weeks," Morgan said.

The price can't come down fast enough for most drivers.

"It's good for being able to fed the child and do things like that," said Sarah Parrett, of Fort Worth. "It's better for a lot of things."

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