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Gas Prices Drop Slightly

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OKLAHOMA CITY Okla_ Tuesday's national average price for regular gasoline is $3.61 per gallon, a penny less than a week ago.

The national average has declined for 16 of the last 18 days. While today's price is 14 cents more than one month ago, the year-over-year premium motorists are paying has closed substantially in recent weeks. On July 17, American motorists paid on average a quarter more per gallon than they had on the same day in 2012. Just twenty days later this year-over-year premium has closed to a bit more than one cent. If the national average falls below last year's price, it will mark the first time since June 1 that motorists will enjoy a year-over-year pump savings.

 

 

Today

Last Week

Change From last Week

Price On 7/9/2013

Change From 7/9/2013

Last Year

Ardmore

$3.542

$3.541

$0.001

$3.680

-$0.138

$3.466

Bartlesville

$3.377

$3.398

-$0.021

$3.261

$0.116

$3.525

Enid

$3.578

$3.528

$0.050

$3.327

$0.251

$3.468

Grove

$3.485

$3.571

-$0.086

$3.363

$0.122

$3.500

Guymon

$3.628

$3.637

-$0.009

$3.682

-$0.054

$3.498

Idabel

$3.507

$3.541

-$0.034

$3.371

$0.136

$3.501

Lawton

$3.345

$3.385

-$0.040

$3.319

$0.026

$3.462

McAlester

$3.507

$3.524

-$0.017

$3.379

$0.128

$3.478

Muskogee

$3.391

$3.422

-$0.031

$3.275

$0.116

$3.430

Norman

$3.486

$3.516

-$0.030

$3.313

$0.173

$3.479

Oklahoma City

$3.488

$3.502

-$0.014

$3.316

$0.172

$3.456

Ponca City

$3.451

$3.467

-$0.016

$3.313

$0.138

$3.458

Shawnee

$3.472

$3.462

$0.010

$3.333

$0.139

$3.446

Stillwater

$3.528

$3.534

-$0.006

$3.355

$0.173

$3.534

Tulsa

$3.356

$3.395

-$0.039

$3.173

$0.183

$3.432

Statewide

$3.486

$3.506

-$0.020

$3.317

$0.169

$3.459

 

Source: AAA

 

 

 

 

 

AAA expects gas prices in the coming weeks may increase due to the potential for late-summer hurricanes and accompanying refinery problems. These types of issues can disrupt production, distribution and gasoline supply at a time when many Americans are filling up their tanks for summer travel. However, if no major hurricanes threaten the Gulf Coast and refineries continue to run smoothly heading into the mid-September changeover to winter-blend gasoline, gas prices could remain flat or even decline further. Through the first six days of August, national gas prices are down slightly more than two cents. The national average in August declined by 5.9 cents in 2010 and 8.9 cents in 2011, but increased by 33 cents during the month last year.

Motorists in all but a handful of states are paying less at the pump than one week ago, with rising prices in the continental U.S. limited to a few of Mountain, Central and Midwest states. Midwestern states in particular continue a multi-month trend of rollercoaster pump prices, including Michigan and Indiana, which have posted weekly increases, but also rank near the top of the largest two-week declines in the nation.

Slightly cheaper West Texas Intermediate (WTI) crude oil prices have provided some downward pressure on national gas prices. The price of WTI has retreated somewhat from the 16-month high of $108.05 per barrel on July 19, but it remains near the highest level for this time of year since 2008. At the close of formal trading on the NYMEX yesterday, WTI settled down 38 cents at $106.56 per barrel.

 

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