Gasoline prices jumped slightly nationally and in Oklahoma in the past week, reaching a statewide average of $2.62 a gallon while nationally, prices averaged $2.86 a gallon.
AAA Oklahoma reports the national average rose 2 cents in the past week while prices in Oklahoma went up about the same. Lawton continued with the lowest metro average at $2.49, same as a week ago. Tulsa’s average dropped a penny to $2.55 while prices in Oklahoma City rose 4 cents in the past week to an average of $2.63 a gallon.
Prices around the state ranged from the $2.49 in Lawton up to $2.90 a gallon in Ellis county in the far northwest. Some places were islands of lower prices such as Garfield County where Enid is the county seat. It has an average of $2.58 a gallon but Grant county to the north is up to $2.63 a gallon and Kingfisher county to the south has an average of $2.80 a gallon.
Regionally, Oklahoma’s $2.62 compares to $2.63 in Texas, $2.68 in Kansas, $2.63 in Missouri, $2.59 in Arkansas, $2.80 in Colorado and $2.75 in New Mexico.
AAA says the reason for the slight increase in prices is due to a fall in total crude inventories nationally. They fell by 6.2 million barrels after growing by nearly the same amount in the previous week. The Energy Information Administration reports stocks nationally now total 404.9 million barrels which is about 80 million barrels lower than inventory levels at this time a year ago.
As a result, AAA says the tightened domestic crude supply amid robust global gasoline demand and high global crude demand will likely sustain the more expensive crude oil prices seen this year. And AAA believes the trend will keep gas prices high throughout the remainder of the summer and maybe into the fall.
