Drivers are starting to see a little relief at the fuel pump as prices start to retreat from near highs for the year.
On Monday, prices for regular unleaded fuel ranged from $2.41-2.59 per gallon in the Brownwood area. Only one station in Brownwood as of Monday morning was selling regular unleaded at $2.59 per gallon as most other stations were $2.49 or below.
Although most of last week had oil above $70 per barrel, wholesale gasoline prices dropped due to the expectation of less travel over the Labor Day weekend than usual. This sentiment was expressed at the pump most of last week as gas stations dropped their prices .08-.10 cents per gallon by this past weekend.
Statewide, prices are falling according to GasBuddy.com. The average price per gallon of regular unleaded gasoline is $2.44 per gallon in Texas. Last weeks price was right around $2.47 per gallon.
On Monday, October contracts of oil dropped about $3.00 at just under $70 per barrel. This could effect the prices of fuel at the pump for drivers more if the wholesale price of gas drops as well. Traditionally, fuel prices increase around Labor Day, but with consumers driving and spending less, 2009 may buck this trend.
