The lowering price at the pump may not match your grocery receipt yet.. But officials say lower prices are on the way.
Gas prices currently sit just under $1.80 in Amarillo.. Lows we haven't seen since November of 2004.
But the products you fill your fridge are still priced for three dollar a gallon gas.
Greg Meador with Plains Dairy says, "Gas is an indirect cost. So we are going to see that trickle down over the next several months. The products that are in the stores right now are still produced and brought in on the old prices, so you will see that follow here in the next couple of months."
Meador says milk prices are on the decline... And are expected to keep dropping. The declining cost of a product used in milk's packaging will also affect other foods.
"Plastic. So packaging, plastics jugs, plastic boxes, all those things used in packaging should be coming down in price as well."
Don't expect to see a big fall right away though.
Joe Murray with Fiesta Foods says, "It takes time for things to wash out of the economic system. The prices didn't go up overnight."
In fact this thanksgiving you will be paying more than before to have that family meal.
"Turkey's are up anywhere from 40 to 45 cents a pound over a year ago."
Meador says, "At the retail level, particularly in grocery stores, they have a tendency to, when the bottom falls out they move down slowly, but when the bottom goes back up, they move up slowly."
Keep in mind that most companies use diesel to ship goods... And while those prices are down..