While Oklahoma’s average gasoline price has tumbled to $1.41 a gallon, the better question might be if and when prices hit $1 a gallon at some locations. AAA Oklahoma said the prices have fallen for 17 consecutive weeks in the state and the new average is 9 cents cheaper than one week ago.
However, Gas Buddy reports the cheapest price in Oklahoma City is $1.09 a gallon, only 9 cents away from a buck a gallon. More than a dozen service stations in Oklahoma City, according to Gas Buddy are selling gasoline from $1.09 to $1.12 a gallon.
“To be honest, we’re just not sure if gas prices have hit rock-bottom yet,” said Chuck Mai, a spokesman for AAA Oklahoma. “Gasoline demand typically begins to increase in February, reaching its peak in August. Plus, this month also marks the beginning of the spring refinery maintenance season. The combination of increased demand and reduced supply often leads to upwards swings in the price at the pump. We’re watching for that to happen again this year.”
While the $1.09 a gallon is the apparent lowest price in the state, AAA Oklahoma says the lowest average is $1.26 a gallon in Shawnee. That’s a 13-cent a gallon drop over the past week. No other city has an average below $1.33. The $1.33 average belongs to Oklahoma City, Lawton and Muskogee. The highest average is $1.49 in Idabel while McAlester is $1.48 a gallon.
Forty-four states have gasoline price averages under $2 a gallon, according to AAA. Oklahoma at $1.41 and Missouri at $1.42 are the least expensive markets across the nation. Thirty states posted averages at or below $1.75 a gallon. Hawaii is highest at $2.63 a gallon.
The national average is $1.73 a gallon which is 45 cents below the price one yeear ago and $1.08 cheaper than the 2015 peak price reached this past June.
