Oklahoma gasoline prices dropped again in the past week, reaching an average of $2.07 a gallon, the lowest average since late March, according to AAA Oklahoma.
In its weekly release of price average, AAA Oklahoma reported the state continued having the nation’s second lowest average. Only South Carolina has a lower average at $2.06 a gallon.
Chuck Mai, a spokesman for the organization says give credit to the oil glut.
“We’ve thrown the rule book out the window. Gas prices have turned tail and retreated at the very time of the year they usually can be counted on to rise.”
Along with the unseasonable glut of gasoline in the U.S. market, there are also record high refinery production rates along with moderate demand and a recent drop in crude oil prices.
Because of the combination, there have been drops in prices in 46 states.
In Oklahoma, Tulsa’s average is down to $2 a gallon, a 12-cent drop over the past month but an increase of 8 cents since early May of 2016.
Oklahoma City’s average this week is $2.04 a gallon, down eleven cents from a month ago.
The national average is $2.35 a gallon, a drop of 4 cents from one month ago but an increase of 14 cents since May 8, 2016.
Gasoline prices dropped the most in Ohio, Michigan and Indiana where the averages are 9 cents lower than a week ago.