As oil prices hit the $27 a barrel mark, it has resulted in fast-tumbling prices at Oklahoma gas pumps where the statewide average is down to $1.87 a gallon.
But the cheapest gasoline is found in Vinita in the northeast part of the state where the average is down to $1.62 a gallon. Oklahoma’s average of $1.87 is down 17-cents from a week ago.
Oklahoma City’s average is $1.80 or 21-cents cheaper than last week at this time. But GasBuddy reported some gasoline in the city is being pumped for as low as $1.20 a gallon and numerous stations are offering it in the range of $1.21 to $1.24 per gallon.
In Tulsa, the average dropped 15 cents to $1.79 while in Lawton, prices fell on average 11 elevens to reach $1.85 at most gas pumps.
The highest prices are in the northwest Ellis county town of Arnett where the average is $2.32 a gallon. Beaver County in the Panhandle has an average price of $2.29 while Coal County in the southeast reported an average price of $2.20 a gallon.
Oklahoma prices compare to $1.93 in Texas; $2.14 in New Mexico; $2.16 in Colorado; $1.97 in Kansas; $1.94 in Missouri and $1.98 in Arkansas.
Nationally, gas price averages in 35 states dropped by double-digits, pushing the national average to $2.25 which is the cheapest price of the year.
“The national gas price average is 13 cents cheaper on the week and nearly 20 cents less than the beginning of the month. These are significant decreases in just 7 and 16 days,” said Jeanette Casselano, AAA spokesperson. “AAA expects gas prices to continue trending cheaper, with the high likelihood of the national average hitting $2/gallon before the end of March.”
During this uncertain time of COVID-19, gas prices are declining despite increasing gasoline demand and decreasing U.S. stock levels.
Source: AAA Oklahoma