Despite the national gas price average rising to $2.49 – the most expensive average at the beginning of a new year since 2014 — Oklahoma maintains one of the lowest average rates at 2.22 a gallon, 27 cents less than the national average.
High travel volumes over the holidays drove gas prices up five cents on the week. At the start of 2018, motorists in the Northeast, South and the upper Midwest are seeing pump prices as much as 13 cents more expensive than last one week ago, according to an AAA press release.
“Although prices at the pump shot up over the holidays, now that the holiday season in the rearview mirror, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand,” said Jeanette Casselano, AAA spokesperson.
Oklahoma is tied with Missouri and Alabama for the cheapest gas in the country.
Gas prices rose in several states, with many seeing double-digit increases. Alaska led the way with an increase of 39 cents while Montana went up by 35 cents. California’s gas price rose by 34 cents and Oregon jumped by 30 cents. Rounding out the top five highest prices was Hawaii with an increase of 27 cents on average.
Demand remains strong according to the U.S. Energy Information Administration which said the gasoline inventory sits at 9.5 million b/d, which is typical for the holiday season. It historically drops and remains below the 9 million mark during the first few months of the new year.
GasBuddy.com reveals the lowest price for gasoline in the Oklahoma City market is $1.97 a gallon at the CM Food Mart located at 6201 Northwest 10th Street and Convenience J located at 4844 Northwest 23rd Street. In the Tulsa metro area, a visit to Costco or one of the three Sam’s Club stores is in order, where gas is $2.04 a gallon.
