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Prices drop but Central Texans still feeling pain at the pump

Gas
Posted at 3:39 PM, Jul 26, 2022
and last updated 2022-07-26 19:00:18-04

Central Texans are finally getting some relief at the gas pump, although not very much.

The average price for regular unleaded gas in is currently $3.80 a gallon in much of Central Texas with diesel closer to $5.00 a gallon.

”Since the high of $5.03 as the national average on June 16th, gas has come down nationwide approximately 0.50 cents per gallon,” said Dr. Rob Tennant, Assistant Professor of Accounting at Texas A&M University Central Texas.

It is a drop, but on average gas prices are still higher than they have been in decades and people are feeling the sting when they hit the pump.

”Gas prices are still up. So, I mean I would love to see them drop another $1.50,” said Chris Worth, while pumping gas in Killeen. “That would be wonderful. We’ve just got to cross our fingers and hope and pray that it does.”

Until then, Central Texans like Chris Worth are stuck paying massive amounts to fill their tank.

”Oh man, it’s terrible. Every day I have to fill up. So, $130 to $140 every day just to work,” said Worth.

It's is a lot and experts don’t expect that to change any time soon

”One of the major factors is that refinery capacity has been decreasing,” said Dr. Tennant. “Over the past 3-years, refinery capacity has decreased more than it has in the 10-years before.”

It’s a grim prediction that motorists like Worth are not happy to hear.

”Somethings got to give soon because it’s not really sustainable for much longer. People are hurting,” said Worth.

The bottom line, even though there is some relief at the pump, it’s not enough.