Gas Prices Drop Sharply in East Texas — Here’s Why

(Mix 93-1) It’s definitely a welcome sight among East Texans — falling gas prices. As prices continue to rise all around us, we're seeing gas prices fall at the pump. However, this is a normal trend we see around this time each year.

Why Gas Prices Typically Fall in the Fall

The summer travel season ended a couple of months ago, and with less travel, there is less demand for gasoline, and the price at the pump tends to decrease as well. Refineries are switching from their ‘summer blend’ gasoline back to regular blends, which are less expensive to produce — and that savings shows up at the pump.

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East Texas Drivers See Prices Drop Fast

I began noticing gas prices falling in Tyler pretty quickly last week at the three convenience stores I pass by each day on my way to the radio station. Two weeks ago, when I filled up my truck, it was $2.74 per gallon. A few days later, it caught my attention that the price went to $2.59, then to $2.45, and today (October 21st) it was $2.32. To me, that's a pretty dramatic decline in a matter of two weeks.

Thankfully, I live in East Texas, where even when gas hit $2.79 per gallon, it was still well below the national average of over $3. According to Gas Buddy, the national average price for a gallon of unleaded is below $3 at $2.96, the lowest national price since May 2021.

How Long Will Lower Prices Last?

Gas prices could continue to slowly fall over the next few weeks and typically bottom out near Thanksgiving and hold through Christmas, where, after the new year, they tick back up slowly in mid-March.

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Lower Prices Offer Relief Amid Rising Costs

I know I live in a part of Texas that is very dependent upon oil and gas, but I don't mind these lower prices for now, especially since everything else around me continues to go up.