Texas gasoline prices slip to average $1.54

HOUSTON (AP) - Gasoline prices in Texas slipped by 1 cent to reach an average $1.54 a gallon during the holiday week.

AAA Texas on Tuesday reported that retail gasoline prices appear to continue declining, but at a slower rate.

Nationwide gasoline prices averaged $1.65, compared to $1.67 last Thursday, the end of the previous weekly reporting period by the association.

El Paso had the state's highest gasoline price this week, at $1.57. Houston for the second straight week had the least expensive price at the pumps, at $1.49.

AAA spokeswoman Sarah Schimmer says prices may have remained relatively firm due to increased demand for gasoline from holiday shoppers and travelers. She also notes people in several parts of the nation are making preparations for winter storms.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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