$3 or higher gasoline in nearly half of Oklahoma’s counties

  • October 19, 2021

Higher gas prices causing frustration around the nation | WCTI

 

“Sorry folks, but the cost of gasoline is still going up”
That’s the headline from the AAA this week as the national average for a gallon of gasoline rose a nickel to hit $3.32 while in Oklahoma, the average went up 8 cents to $2.97 a gallon.
Nearly half of the state’s 77 counties, 33 to be precise have averages of $3 up to $3.27 according to AAA Oklahoma. With crude oil prices at $82 a barrel in the U.S. this week, it’s the primary driver behind the increasing gasoline prices.
A week ago, Oklahoma’s average was $2.91 and a month ago, prices in the state averaged $2.86. A year ago, Oklahoma drivers paid an average $1.87 per gallon.
Oklahoma City’s average is $2.94, up 6 cents in the past week while drivers in Tulsa pay $2.99 per gallon or 10 cents more than one week ago.
At least 16 counties in the state have averages of $3.03 to $3.27 while in 17 counties, the average is $3 to $3.03 per gallon. Another 13 counties have averages ranging from $2.86 to $2.92.
Oklahoma’s average $2.97 compares to $3 in Kansas, $3.52 in Colorado, $3.24 in New Mexico, $2.94 in Texas, $2.97 in Arkansas and $2.96 in Missouri.
AAA says don’t look for any relief soon at the pumps.

“Compared to the price of gas a year ago, it now costs consumers about $17 more to fill up their vehicles,” said Andrew Gross, AAA spokesperson. “That’s the cost of a large pizza with toppings. And unfortunately, it doesn’t look like drivers will be finding relief at the pump any time soon.”

According to new data from the Energy Information Administration (EIA), last week’s total domestic gasoline supply fell by 2 million bbl to 223.1 million bbl. Gasoline demand also fell from 9.43 million b/d to 9.19 million b/d, but the agency calculates it is still some 610,000 b/d above last year. Typically, softening demand should result in some easing of pump prices, but the higher cost for crude is blocking this. With oil prices remaining elevated, pump prices will follow suit because the cost of crude oil accounts for more than half of the price of each gallon of gas.

Forecasts from the International Energy Agency for more robust oil demand, especially heating oil this winter, are also keeping crude oil prices elevated.

Today’s national average of $3.32 is 13 cents more than a month ago, $1.16 more than a year ago, and 67 cents more than in 2019.

4 years price comparison

The nation’s top 10 largest weekly increases: Ohio (+15 cents), Alabama (+13 cents), Connecticut (+11 cents), West Virginia (+11 cents), Maine (+10 cents), Tennessee (+10 cents), Vermont (+10 cents), New Hampshire (+10 cents), Virginia (+10 cents), and Rhode Island (+9 cents).

The nation’s top 10 most expensive markets: California ($4.49), Hawaii ($4.18), Nevada ($3.88), Washington ($3.86), Oregon ($3.76), Idaho ($3.71), Alaska ($3.70), Utah ($3.70), Washington, D.C. ($3.54) and Colorado ($3.52).

Source: AAA

Jerry Bohnen