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Gas prices fall around county, state

Gasoline prices continue to drop across Dallas County and Selma, reflecting the dive taken per barrel Tuesday.

In the futures market, New York light sweet crude for January dropped $2.32 dollars and closed at $46.96 — the lowest since May 2005.

That continuing downward move is reflected at the pumps. AAA Alabama reports the average cost to fuel a vehicle with a 15-gallon tank is $26.24, nearly $10 less than last month’s $36.11 and a whopping $23.27 from six months ago.

The cheapest regular brand of gasoline in the area is reported at the Citgo Pantry 8, 406 U.S. Highway 80 East at $1.65, reported on Sunday. The next lowest is the Conoco Cougar Mini Shop No. 14 at 2301 Broad St. at $1.67.

The Raceway on Highland Avenue reported gasoline prices at $1.67 Tuesday afternoon. “It could be down to $1.65 by Wednesday,” said Patrick Hisel, who manages the store.

Cougar Mini Shop No.3 on West Dallas Avenue held at $1.70 — the average in many cities across the U.S. The BP, 3621 Ala. Highway 22 West reported the highest pump price for regular at $1.799.

Lowell Butts at the Crossroads Exxon, 2530 U.S. 80 West, had his gas posted at $1.78. He predicts the price per barrel will go back up.

“It’s just like corn or wheat or anything else. If you get a $2 or $3 drop per barrel, you’re not talking about pennies on the gallon,” he said.

Gas prices fell more than $5 a barrel Monday after OPEC had said Sunday it would not cut production. The cartel said it would wait until December before reducing exports of crude oil.

Bloomberg reported oil has fallen 50 percent this year after six years of gains.

Sports editor Barrett Welch and The Associated Press contributed to this report.