For the first time in several months, oil has dropped to $89 a barrel. Whether we will be seeing this reflected at the pumps remains to be seen, though it is believed that consumers will be seeing gas drop below $3.00 a gallon.
For prices at the pump to drop, though, crude oil has to stay around $90 a barrel.
The drop in crude prices is linked to the state of the market at the moment. The Dow Jones has dropped another 400 points, and the Federal Reserve is looking to cut interest rates.
Throughout the country the nationwide average for gas is $3.48, while in Houston area, reportedly the average is $3.33. Residents in Northwest Houston, though, have been paying as low as $3.21, even $3.08.
