Oklahoma’s gasoline prices are down to a statewide average of $1.50 while the national average is at $1.79, according to the latest Fuel Gauge Report issued by AAA Oklahoma.
“Oklahoma’s pump prices are mimicking the national downward trend, although the state average is actually up a penny to $1.50 today thanks to the Tulsa avwerage jumping dramatically yesterday,” said Chuck Mai, a spokesman for AAA Oklahoma. “Oklahoma City’s price average today is lower than Tulsa’s, a situation we don’t see very often. Even so, Oklahoma’s price is the second-lowest of all the states, beaten only by Missouri’s $1.49.”
The national average is down to its lowest level since January 2009. Gasoline prices have fallen for 25 of the past 27 days and AAA believes the combination of seasonal reductions in gasoline demand and the relatively lower price of crude oil are likely to keep prices in check for the immediate future.
Shawnee has the cheapest gasoline in the state with a $1.39 a gallon average. Most other cities are in the dollar-40s range and only three cities, Idabel, McAlester and Stillwater have averages more than $1.50 a gallon. Idabel is highest with an average of $1.55 a gallon, even after dropping nearly 8 cents a gallon in the last week.
Oklahoma City’s average is down a nickel to $1.46 a gallon while in Tulsa, the average is at $1.48 a gallon.
It’s pretty simple to explain why gasoline prices are still dropping—the imbalance between supply and demand and the resolution of distribution and refinery issues. Supply in the Midwest is said to be at comfortable levels and although prices can be volatile, any upward swings, according to AAA, may be offset by falling prices in other regional markets. AAA said barring any major supply or distribution issues, and if the price of crude remains depressed, the national average remains poised to continue declining approaching the spring maintenance season.
Another gasoline website, Gas Buddy, reports the Oklahoma average is down to $1.46 and the cheapest gasoline is being pumped for $1.24 a gallon at two south Oklahoma City convenience stores.
