Super cheap gasoline in Oklahoma—$1.03 at one OKC site

Gasoline prices in Oklahoma are down to a statewide average of $1.70 while nationally, 29 states have averages under $2 a gallon. One Oklahoma City station is pumping gas for $1.03 a gallon.

AAA Oklahoma reports the U.S. average is now $2.11 while the Oklahoma average of $1.70 compares to $1.90 a week ago and $2.20 a month ago. But GasBuddy reports Oklahoma City prices are much lower with numerous stations selling gas from $1.03 a gallon to $1.20.

Oklahoma’s average is one of the lowest in the region. The average in Texas is $1.84 while in Arkansas the average is $1.86. Missouri drivers pay an average of $1.85 a gallon while those in Kansas see an average of $1.87 at the pumps.

Colorado’s average is $2.06 while New Mexico drivers pay an average of $2.04.

In Oklahoma, drivers in the western part of the state are paying higher prices with Roger Mills County at the highest with an average of $2.21 a gallon. Ellis county has an average of $2.14 while Coal County in Southeast Oklahoma has an average of $2.17.

The cheapest prices are in Pottawatomie county where the average price is $1.49. Adair County next to Arkansas has an average price of $1.47 while Craig County in the northeast has an average of $1.50.

Oklahoma City’s average is down to $1.58 compared to the $1.85 reported a week ago. In Tulsa, the average is $1.68, 12 cents cheaper than last week. Lawton has an average of $1.69, 18 cents lower than one week ago.

With the national average at $2.12, pump prices are, on average, 50-cents less than this time last year. Crude oil is the biggest driver of the less expensive gas prices. In the last week, crude oil prices dropped to $22/bbl – a low not seen since 2002. Crude oil accounts for nearly 60% of the retail pump price. When crude is cheap, gas prices follow suit.

“Typically gas prices start to trend more expensive at the beginning of spring, especially as motorists get out to enjoy the warmer weather and travel for spring break. That is not the case this year,” said Jeanette Casselano, AAA spokesperson. “With Americans urged to stay at home and practice social distancing to slow the spread of coronavirus, we are seeing less traffic on the roadways which will ultimately drive down demand, increase gasoline supply and push pump prices less expensive for the foreseeable future.”

Motorists do not need to rush to the pumps to fill-up. Currently, there is ample U.S. gasoline supply and no disruption to distribution at gas stations.

Sources: GasBuddy and AAA Oklahoma

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