Gasoline prices hold steady at $2.63 in Oklahoma

 

Oklahoma gasoline prices held steady in the past week staying at $2.63 a gallon average, the same price as a week ago, but three cents lower than a month ago.

AAA reported the statewide average compared to the national average of $2.86 a gallon.

Oklahoma City prices averaged $2.56, down three cents in the past week and 9 cents below the average from one month earlier. Tulsa prices average $2.61, up four cents from the previous week and one cent less than a month ago.

Lawton has the cheapest gasoline in the state with a city-wide average of $2.46, a drop of three cents over the past week and 9 cents lower than a month ago.

The highest average in the state is still in Hollis and Harmon County in the southwest where drivers pay an average of $3.10 per gallon. The next highest average is $2.88 recorded in Cherokee County in the east and Woods and Ellis Counties in the northwest.

Oklahoma’s average of $2.63 compared with averages of $2.67 in Kansas, $2.90 in Colorado, $2.86 in New Mexico, $2.57 in Texas, $2.67 in Arkansas and $2.63 in Missouri.

 

 

Refinery utilization is at its highest measurement this year: 84%. This strong utilization rate, as measured by the Energy Information Administration (EIA), helped contribute to the addition of 4 million bbl of gasoline, pushing overall supply levels to 234.5 million bbl for the week ending April 2. The refinery and production increases amid a small decrease in demand and cheaper crude oil prices resulted in the national gas price average decreasing by a penny to $2.86 on the week.

“After a wild March, Americans are seeing a little stability at the pump. On the week, 40 states’ averages either increased or decreased by only a penny, or had no change at all,” said Jeanette McGee, AAA spokesperson. “Cheaper crude oil prices will likely help to keep price fluctuation low this week.”

For the first time in nearly two months, crude oil prices last week held below $60/bbl for five straight days. The cheaper price is a positive indicator for more stability at the pump.