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Price at the pump continues to fall

Need some good news after possibly paying a hefty price for that ticket to the Red River Rivalry or the Baylor-TCU game in Waco?

Take comfort in the fact that getting there will be cheaper.

AAA Texas said the price of gas dropped by nearly a dime statewide this week, settling Thursday at $3.09 a gallon. By Friday morning, the average had fallen 2 more cents.

But a number of gas stations in the Fort Worth area were posting prices well below $3 a gallon Friday afternoon, according to fortworthgasprices.com. It listed 15 stations where prices ranged from $2.85 to $2.89. That website listed a statewide average of $3.08.

“Whether you live in Paris, Texas, or Paris, France, all fuel is going lower for the next 30 days,” predicted Tom Kloza, chief oil analyst for GasBuddy.com in suburban New Jersey, which operates fortworthgasprices.com.

Last month, analysts were prophesying that drivers could expect to see the cheapest gasoline for this time of year since 2010. Global oil prices have continued to slide as supplies have outpaced demand and markets remain stable despite tensions in the Middle East.

The fall is also when refineries make a seasonal switch to a cheaper blend. The gas contains more liquid, such as butane, which is less expensive to produce.

Nationally, the average price for regular unleaded gas was $3.25, down from $3.33 a week ago, AAA reported Thursday. In Texas, the price at the pump was down from $3.17 a gallon.

The savings might be needed for some college football fans. On StubHub, the cheapest seat at the Texas-Oklahoma game at Fair Park was $102, and it was $145 at the Big 12 showdown between TCU and Baylor.

“It does allow people more money in their pockets for entertainment like the Red River Rivalry or even going to Dallas for the Texas State Fair,” said Doug Shupe, a spokesman for AAA Texas/New Mexico.

In the Texas metro areas, Beaumont-Port Arthur drivers were paying the least for gas — an average of $3.01 on Friday — according to the motor club. Motorists in El Paso and Texarkana were paying the most — $3.09.

In Dallas, Fort Worth and Arlington, a stop at the pump was costing $3.07 on average, a 4-cent drop from Thursday, AAA said. That’s 11 cents less than a week ago in Dallas and 14 cents less in Fort Worth and Arlington.

Kloza said the wholesale price of gas has dropped 60 cents since the middle of summer. But he cautioned people not to think that the price plunge means that Americans are entering a period of vastly cheaper prices, as has been the case with natural gas.

“I think we are looking at lower prices for the remainder of the year. The average price will have a $3 handle on it,” Kloza said, adding that he doesn’t “think this is the new normal. Oil is too volatile.”

This report includes material from The Associated Press.

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