Gasoline Prices Keep Slipping in Oklahoma

Gasoline prices in Oklahoma continue falling across the state as the new statewide average stands at $1.75 a gallon, according to AAA Oklahoma. Bartlesville has the cheapest gasoline in the state with an average price of $1.63, a decline of a dime a gallon in the past week. Muskogee and Tulsa each have averages of $1.64 a gallon. The state average was actually lower at $1.73 on Monday making it the cheapest gasoline in Oklahoma since Feb. 28, 2009.

“Global supply continues to outpace demand, putting downward pressure on oil prices,” said Chuck Mai, a spokesman for the automobile organization. “Both West Texas Intermediate and Brent closed out the year posting yearly losses of nearly 30 percent. As a result, the U.S. crude oil rig count dropped by nearly two-thirds over the course of 2015, the largest decline in the last 30 years.”

A check of other prices around the state shows the average at $1.75 in Ardmore but the highest average is $1.81 in Idabel. Altus is at $1.69 while Enid’s average is down two cents a gallon to $1.67. Guymon is at $1.70 while Oklahoma City’s average is $1.75 a gallon.

The national average is at $1.99 as of Monday which was the lowest since March 25, 2009.

AAA maintains that market fundamentals are positioned to continue to support lower pump prices in 2016, though averages are likely to increase leading up to the summer driving season as seasonal refinery maintenance gets underway this spring.

“A couple of wild cards have been dealt into the deck recently,” explained Mai. “Saudi Arabia has cut diplomatic ties with Iran and now we hear that Bahrain, Sudan and the United Arab Emirates apparently are following suit to some extent. Plus, congress has moved to lift the decades-old U.S. ban on crude oil exports. What impact these events have no prices at the pump remains to be seen.”

Motorists in 34 states are now paying averages below $2 a gallon with Missouri having the cheapest gasoline at $1.71 average. South Carolina, Oklahoma, Arkansas, Tennessee, Texas, Alabama, Mississippi and Kansas are the nation’s least expensive markets for gasoline today.



   

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