How to find the best gas prices in Texas
Houston, Texas — The Houston Gas & Electric Company has announced it will be lowering its gas prices this week to $1.49 a gallon.
The announcement comes after an unprecedented drought that has caused many gas stations to close their doors and cause some gas to run out.
The Houston Gas Company has lowered its gas price to $0.90 a gallon, down from $1 a gallon a month ago.
The company says it will keep a price freeze on gas for customers who have not yet purchased a new vehicle.
Gas prices have been low in recent months due to a dry winter.
Gas is more expensive than it has been for a long time.
Last year, average retail gas prices were $1 per gallon, according to GasBuddy.com.
However, that was before the drought that hit Texas in January of 2016, which hit the state with record drought conditions and led to many stations closing their doors.
The Texas Tribune thanks its sponsors.
The last time the price was this low was in April of 2016.
GasBuddy estimates the Houston Gas Corp. is losing about $1 billion in the next few years.
This is a huge amount of money that is going to go into the coffers of the Houston Texans and their taxpayers.