Gas price war drops below $3 a gallon

A Chevron gas station and a Shell gas station on opposite sides of the intersection of FM 529 and N. Eldridge have been steadily dropping gas prices in a business competition. At last check just after 4pm, gas was selling at the Shell station for $2.79 a gallon. The price at the Chevron station was $2.78. By 4:30pm, Shell dropped their price to $2.69 and Chevron was at $2.72. Shortly before 6pm, the prices had dropped to $2.38 at Chevron and $2.39 at Shell. Close to 6:30pm, prices were down to $2.33 and $2.32.

Drivers have lined up around the stations, hoping to get in on the bargain fill-up. Traffic is slowing down in the area. The northbound lanes of Eldridge are backed up nearly two miles to Tanner. Westbound lanes of FM 529 are slow from Fairview, a little over a mile.

The store owners are actually losing money on the gas, but they're hoping to bring customers in to the stores to help make up the difference.