90 cent gasoline in Oklahoma

A week after oil prices dropped into negative territory before rebounding into a range of less than $20 a barrel, gasoline prices in Oklahoma dropped another two cents a gallon, reaching a low of $1.36. While oil producers are hurting, drivers are smiling when they pull up to the pumps.

But GasBuddy reports gas is pumped at 90 cents a gallon at a Sam’s Club in Moore; 95 cents a gallon at a Sam’s Club in Tulsa and 95 cents at the Okmulgee Country Corner.

AAA Oklahoma found the cheapest gasoline prices by county ranged statewide, from $1.08 in Adair next to the Arkansas state line to $1.17 in Miami in the northeast corner to $1.27 in Beckham county adjacent to the Texas State line in the west.

For the first time, a cluster of five counties in south central Oklahoma saw a spike in prices with McClain County, just south of Oklahoma City reporting an average of $1.58 a gallon and Jefferson County, home to Waurika had an average of $1.67 per gallon.

Counties with prices in the $1.21 to $1.25 per gallon included Pottawatomie, Seminole, Pontotoc, Pittsburg and Pushmataha.

Oklahoma City’s average dropped two cents to $1.31 while the average in Tulsa declined by three cents to $1.32.

Nationally, the average declined four cents to reach $1.77. Oklahoma’s average of $1.36 compares to $1.49 in Kansas; $1.73 in Colorado; $1.76 in New Mexico; $1.51 in Texas; $1.42 in Arkansas and $1.46 in Missouri.

The state’s highest prices are in the Panhandle where Guymon in Texas County has an average of $1.75 while Cimarron at the western edge of the Panhandle has a $1.72 average.

Pump prices have consistently declined for nine weeks as Americans follow stay at home orders and crude prices remain low due to COVID-19. New data from the Energy Information Administration revealed that demand increased slightly from 5.1 million b/d to 5.3 million b/d. An increase in demand may contribute to the slowing of pump price decreases in areas that see an uptick in gas sales, but prices will still be well below where they were a year ago. When compared to a year ago, the national average today is $1.05 lower.

Since last Thursday, these 10 states have seen the largest declines in their averages: Idaho (-11 cents), Alaska (-8 cents), Arizona (-8 cents), Montana (-7 cents), Wisconsin (-7 cents), Nevada (-7 cents), Oregon (-7 cents), Washington (-6 cents), Michigan (-6 cents) and Utah (-6 cents).

Source: AAA / GasBuddy