OKLAHOMA CITY Okla_ Tuesday's Oklahoma average price for a gallon of self-serve regular gasoline is $3.317, up three cents over the price of $3.287 posted on July 7, AAA reports.
Seven states have a lower statewide average today than Oklahoma, led by South Carolina at $3.159, Alabama at $3.230 and Mississippi at $3.253. Needless to say, Tulsa no longer has the lowest average gas price of all major U.S. cities, as it did last Tuesday.
For the first time in 27 days, the national gas price average rose today; it's up almost a full cent from yesterday to $3.483 per gallon. This is a half-cent higher than last week's price, 15 cents below a month ago, and a dime above one year ago.
Rising crude oil prices could mean the national average pump price hit its low for the summer yesterday. In 2011, the national average reached a summertime low of $3.54 on June 30 and in the summer of 2012, it bottomed at $3.33 on July 2.
West Texas Intermediate (WTI) crude oil traded in a relatively narrow range of $93-99 per barrel during the month of June. Prices began last week within this same range but quickly moved higher on escalating protests in Egypt and positive economic news as the holiday-shortened week progressed. On Wednesday, oil prices settled above $100 per barrel for the first time since May 3, 2012. As was the case in 2011 when then-President Hosni Mubarak stepped down following violent demonstrations, unrest in Egypt raises concerns of potential disruptions at the Suez Canal – a major shipping route for oil – and the possibility that unrest might spread to other countries in the Middle East and North Africa.