Gasoline prices have bounced back upward a few more cents in Oklahoma, raising the state’s average this week to $1.97 a gallon, an increase of four and a half cents over the past week, according to AAA Oklahoma.
Lawton has the lowest average at $1.90, an increase of 4 cents over the last several days. Three cities in the state have averages above the $2 mark. Altus is the high spot with a $2.03 average, an increase of 4 cents a gallon. Stillwater and Guymon each have averages of $2.02 a gallon.
Tulsa is up 8 cents to $1.92 and Oklahoma City experienced the same hike, reaching an average of $1.98 a gallon. Two weeks ago, the average in Tulsa was $1.84.
The increase in gasoline prices moved Oklahoma out of the top ten states with the cheapest prices. The state is now eleventh. Gas prices in fifteen states are now below $2.00 per gallon: South Carolina ($1.81), Alabama ($1.86), Tennessee ($1.89), Mississippi ($1.89), New Jersey ($1.90), Virginia ($1.91), Arkansas ($1.92), Delaware ($1.94), Louisiana ($1.95), Texas ($1.98), Missouri ($1.97), Oklahoma ($1.97), Georgia ($1.98), Kentucky ($1.98) and North Carolina ($1.97).
· Despite year-over-year savings, the West Coast remains the most expensive market for gasoline, including the only four states where drivers are paying an average of more than $2.50: Hawaii ($2.73), California ($2.66), Washington ($2.62), and Alaska ($2.59).
The U.S,. Energy Information Administration says 44 percent of gas stations across the U.S. are selling gasoline for $2 or less. A year ago, fewer than one in a thousand were pumping it for under $2 a gallon.
Here is what else AAA Oklahoma is saying about what to expect:
With gasoline supplies high and oil prices low, pump prices are likely to remain relatively cheap through the remainder of the summer and into the fall. This comes even as U.S. drivers are on track to shatter the all-time record for total miles driven in a year. Provided the next month does not bring a major market-moving event, like a major hurricane or escalating geopolitical tensions overseas, pump prices are likely to remain at relatively low levels. It is even possible that the national average price of gas may dip below $2.00 per gallon after the summer driving season ends and refineries switch over to less expensive winter-blend gasoline on September 15.
As has been a regular refrain in recent years, gas prices in the Great Lakes region and central states continue to be the most volatile in the nation, with tightening supplies and refinery issues temporarily sending prices sharply higher. The past week has been a microcosm of this effect as the region has featured the three most dramatic increases in the nation (Michigan +14 cents, Illinois +7 cents, and Ohio +7 cents) as well as the largest decrease (Indiana -7 cents). In last week’s AAA Gas Price Report, Indiana featured the largest weekly increase (+10 cents). Wholesale gasoline prices in the Great Lakes region spiked last week following reported issues at the BP facility in Whiting, Ind. (the region’s largest refinery), which built on recent data from the Energy Information Administration showing that regional supplies, while still robust, are tightening. Much of these gains were reversed on Friday when outlets reported that the refinery issue had been resolved, so it is likely next week’s report will once again feature the region as experiencing significant declines.