Local Professor Says Gas Prices Should Remain Low
WESLACO – A local professor expects gas prices to remain low.
Economics professor from South Texas College, Teo Sepulveda expects the cost of fuel to remain low through the first-half of 2019.
He says the price for a barrel of “West Texas Intermediate Crude” oil was close to $80, now it’s under $50.
“We have way too much gas, oil, and natural gas available in the world, not just in the United States,” says Sepulveda.
One barrel of oil contains 42 gallons of crude, and today the U.S. produces 11 million gallons a day.
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