The national gas price average is flat compared to last week at $2.25, but just a three cent drop would bring the U.S. average to the lowest since December 2016. However, as crude oil prices continue to climb it does not look like pump prices will drop much lower.
“Crude oil prices have increased by $5/bbl since the beginning of the year, but over-supply of crude in the market and low demand have helped to keep the national average relatively stable,” said Leslie Gamble, AAA Oklahoma spokesperson. “Crude oil prices will be a dominant factor towards determining if motorists will see slightly cheaper or more expensive pump prices in coming weeks.”
Oklahomans are enjoying the third cheapest prices at the pump in the country at an average of $1.94 per gallon. Only in Missouri and Arkansas will motorists find consistently less expensive gas.
On the week, state gas price averages fluctuated with a handful of southern and mid-western states seeing gas prices increase, though the majority of states saw averages decrease or hold flat. Today’s national gas price average is nine cents cheaper than a month ago and 29 cents less expensive than a year ago.