Gas prices dropping in North Texas

SHERMAN, Tex. (KXII) - If you're in Grayson County and you're running low on gas in your car, you're in luck.

Right now, according to AAA the Sherman-Denison area has one of the lower prices in the state.

In Oklahoma, prices are averaging about 20 cents more.

"Makes everybody happy," said Michael Hughes, who was filling up hist tank.

"Well I think it's a great deal right now. Especially with summertime coming on and people traveling and stuff," said Rich Hill.

Hill is headed to Lubbock for a college visit, so he's taking advantage of the cheap gas.

"Saw the low price here in town and thought I'd better fill up before I go," Hill said.

AAA spokesperson Daniel Armbruster said it's not just low prices locally, gas costs across most of Texas are going down over the last few weeks.

"It's always good from the consumer point of view to see that," Hill said.

"I think they're great. Been waiting on this," Hughes said.

The average cost in Sherman and Denison is $2.31, that's 14 cents lower than the state average.

Armbruster said it goes back to the price of oil, which makes up 60 percent of what you pay at the pump.

"Oil prices that are much cheaper than were anticipated and certainly much cheaper than where they were when we started the year," Armbruster said.

He said on average, drivers in this area are paying 37 cents less than they were a year ago, and market analysts expect prices to continue to be lower this summer than last year.

Hughes said coming to the gas station, he only needed a quarter tank.

"Thought might as well fill up with these prices," Hughes said.

Compared to the national numbers, prices in Sherman and Denison are nearly 50 cents lower than the national average.