The price of gasoline dropped slightly in the past week across the U.S. and in Oklahoma.
The new statewide average is $2.61 a gallon compared to the national average of $2.86, according to AAA Oklahoma. The state has some of the cheapest gasoline in the country.
Nationwide, 44 states have less expensive or steady gas price averages compared to last Monday. However, the cheaper trend may be reversing. Gasoline demand spiked in the latest Energy Information Administration’s (EIA) report, in fact setting a new all-time record at 9.88 million b/d for the week ending June 8. As demand skyrockets, U.S. gasoline inventories plummeted 2.27 million bbl, to land total inventories at 237 million bbl, which is 5.7 million below stocks last year at this time.
“If demand continues to strengthen and inventories decrease in the weeks ahead, motorists can expect gas prices do a reversal and start to increase again,” said Jeanette Casselano, AAA gas price expert. “AAA expects the national gas price average to range between $2.85 and $3.05 through Labor Day, likely seeing the summer’s highest prices in June.”
In Oklahoma, Pawnee and Washington counties have the lowest averages at $2.50. Comanche county has an average of $2.51. On the other end of the spectrum, the highest averages are in Ellis county in the west and Coal county in the southeast where motorists pay $2.87 a gallon.
Lawton still has the lowest city average at $2.52, down 4 cents in the past week. Oklahoma City’s average dropped two cents to $2.56 a gallon while in Tulsa, drivers are paying 3 cents more at $2.58 a gallon.
Of surrounding states, Arkansas has an average of $2.62 while drivers in Missouri pay $2.67 on average. Colorado’s average is up to $2.86 and New Mexico has a $2.94 a gallon average. Texas stands at $2.70 a gallon and drivers in Kansas pay an average of $2.69 a gallon.