Oil prices shedding value.
Average retail gasoline prices in Oklahoma have fallen 5.1 cents per gallon in the past week, averaging $2.95/g yesterday, according to GasBuddy's daily survey of 2,294 gas outlets in Oklahoma.
This compares with the national average that has fallen 3.3 cents per gallon in the last week to $3.26/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Oklahoma during the past week, prices yesterday were 19.5 cents per gallon lower than the same day one year ago and are 19.5 cents per gallon lower than a month ago.
The national average has decreased 12.8 cents per gallon during the last month and stands 24.2 cents per gallon lower than this day one year ago.
"The downward movement in national gasoline prices has continued for yet another week, thanks to a fall in commodity prices," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
"Oil prices continue to shed value, leading the way to lower gasoline prices. Five states- all in the nation's midsection- are now seeing their average prices under $3/gallon: Missouri, Oklahoma, Arkansas, Texas, and Kansas, and motorists in those states certainly have a "there's no place like home" advantage," DeHaan said.