Average gas price in San Marcos/Austin area falls below $4

Average gas prices in the San Marcos/Austin area have fallen below $4, according to AAA Texas.

Drivers in the San Marcos area were paying an average of $3.97 per gallon of unleaded fuel as of Thursday, marking a nearly 20-cent decrease from the previous week. The statewide average across Texas fell below $4 as well. Texans are paying on average $3.95 per gallon of unleaded gas as of Thursday, AAA Texas said.

The statewide average was 19-cents less than the past week but still $1.12 more than this time last year. AAA Texas said gas prices have fallen across Texas amid concerns of an economic slowdown. Decline in crude demand relating to reduced economic activity could lead prices to continue downward, AAA Texas added.