Gas prices: How low will they go?

Tyler (KYTX) -- Your dollar is going further at the gas pump. The state average for a gallon has dipped to its lowest in two years.

"I usually get around $15 worth of gas, but today I got more than usual," Brittany Taylor, a driver going to Tatum, said.

"I usually run about $57. It was $46 today, so that extra $11 actually helps out a lot," Doug Allen, a Tyler driver, said.

According to AAA, the average cost of a gallon in Texas is $2.98 and falling. Experts explain the stars have aligned for prices to drop.

"Supply is going up because of all the fracking and the oil development in the United States, so all the factors that can drive prices down right now are kind of kicking into high gear," Harold Doty, Assistant Vice President of Strategic Initiatives at UT Tyler, said.

He also says refineries have switched to winter blend, which is .15 to .20 cheaper than the summer blend to produce. 

That said, Doty predicts we may even see the average fall to $2.75 a gallon.

"That's still optimistic, but I'm not going to back off that yet by the time it's all said and done," Doty said.

Drivers tell us any drop--is an early Christmas present.

"The more disposable income, I can buy more things for my kids, have a better Christmas right around the corner," Allen said.


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