The American Automobile Association (AAA) announced last week that U.S. gas prices dropped below $3 per gallon for the first time in more than four years. Their report showed that drivers in 18 states, including Texas, are paying less than $2.75 per gallon on average just in time for the Holiday season.
Secretary of Energy Chris Wright cited the increased domestic oil and gas supply from the Gulf of America region, saying that the production is almost a million barrels a day higher than 12 months ago.
The developments in streamlining energy production and permitting are helping prices go down this holiday season.