Gasoline prices continue their slump in Oklahoma

With nationwide gasoline prices at their lowest levels in two years, Oklahoma prices are down as well and among some of the cheapest prices in the country. The nationwide average on Monday was $2.37 per gallon.

AAA Oklahoma reports the statewide average is $1.90, down two cents from a week ago and 18 cents from a month ago. The state’s lowest prices are in and around Lawton and in several counties in the northeast. Washington county is lowest with an average of $1.76 per gallon for regular unleaded.

The highest prices are in the northwest and the panhandle where the averages in more than a dozen counties are more than $2 a gallon. Shattuck, county seat for Ellis County is highest with an average of $2.40 per gallon.

Lawton’s average is $1.79, down about 3 cents in the past week while the average in Tulsa is $1.82, a drop of 4 cents.

The average in Oklahoma City is $1.89, an increase of 3 cents over the past week.

Oklahoma prices compare to $1.91 average in Texas; $1.93 in Kansas; $1.82 in Missouri; $1.91 average in Arkansas; $2.14 in New Mexico and $2.20 in Colorado.

The latest Energy Information Administration ( data registers gasoline demand at 8.6 million b/d for the week ending December 28 – the lowest level on record since February 2017. Despite record motor vehicle travel for the holiday, demand was down nearly 900,000 bbl, suggesting that demand this winter could be lower than expected.

Today’s national gas price average has declined for 12 weeks in a row. The national average is three-cents cheaper on the week, 20-cents cheaper than last month and 25-cents cheaper year-over-year.

“As the global crude market continues to be oversupplied, oil prices are dropping, continuing last week’s trend,” said Jeanette Casselano, AAA spokesperson. “This is good news for motorists filling up at the pump.”

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