SAN ANTONIO -

Gasoline prices continue to drop across San Antonio and Texas.

The statewide average of a gallon of unleaded gasoline on Thursday cost $3.11

The plummeting prices can be found throughout the city, with prices as low as $2.95 at some places.

The drop in price has drivers cashing in.

"Go on vacation, spend it on food, spend it somewhere else. I mean we're on vacation,” said Jared Stroud as he was filling up his vehicle.

According to AAA, the price of fuel is five cents less than last week and 44 cents cheaper than last year.

"In recent days and weeks, what's really affected the price of gasoline is a decrease in the cost of complying with the federal renewable fuel standard. Basically the cost of blending ethanol," said Valero spokesman Bill Day.

Day expects prices to continue dipping through the end of the year as long as there's not a hurricane or unexpected natural disaster.

"Part of that is also because of all the new oil that is being produced here in Texas and in the United States. We're less reliant on foreign sources of oil," Day said.