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Oklahoma Pump Price Drifts Below $3 per Gallon

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OKLAHOMA CITY Okla_ Oklahoma's average price Tuesday for regular self-serve gasoline stands at $2.996, the first time it has fallen below $3 per gallon since January 18 of this year, according to www.AAAFuelGaugeReport.com.

Over the last five and one-half months, the statewide average has slipped 92 cents. As recently as May 21, Oklahoma's average was $3.916.

Motorists in the Sooner state are enjoying the third lowest pump price average in the nation today. Four states now have averages below $3 per gallon: Missouri at $2.888, Arkansas $2.989, Oklahoma $2.996 and Texas $2.998. Hawaii is the only state with a price average above $4 per gallon.

 

Today

Last Week

Change from last Week

Price On 10/8/2013

Change From 10/8/2013

Last Year

Ardmore

$2.963

$3.023

-$0.060

$3.183

-$0.220

$3.246

Bartlesville

$2.847

$2.870

-$0.023

$2.998

-$0.151

$3.075

Enid

$3.097

$3.142

-$0.045

$3.230

-$0.133

$3.163

Grove

$2.933

$3.053

-$0.120

$3.196

-$0.263

$3.199

Guymon

$3.318

$3.311

$0.007

$3.462

-$0.144

$3.273

Idabel

$3.047

$3.100

-$0.053

$3.217

-$0.170

$3.243

Lawton

$2.926

$3.002

-$0.076

$3.187

-$0.261

$3.147

McAlester

$3.049

$3.145

-$0.096

$3.255

-$0.206

$3.269

Muskogee

$2.907

$2.970

-$0.063

$3.082

-$0.175

$3.111

Norman

$2.980

$3.062

-$0.082

$3.141

-$0.161

$3.161

Oklahoma City

 

$2.966

 

$3.048

-$0.082

$3.154

-$0.188

 

$3.133

Ponca City

$3.002

$3.149

-$0.147

$3.302

-$0.300

$3.221

Shawnee

$2.948

$2.988

-$0.040

$3.164

-$0.216

$3.116

Stillwater

$3.037

$3.111

-$0.074

$3.249

-$0.212

$3.212

Tulsa

$2.852

$2.929

-$0.077

$3.046

-$0.194

$3.102

Statewide

$2.996

$3.069

-$0.073

$3.180

-$0.184

$3.193

AAA continues to predict gasoline prices will fall further, with the national average dropping to as low as $3.10 by Christmas. The average across the country today is $3.24 per gallon, the lowest since December 21, 2012. This price is four cents cheaper than one week ago, 11 cents less than one month ago and 23 cents below the price on Nov. 5, 2012. Prices have dropped 35 cents since September 1 and have fallen on 58 of 65 days during this stretch.

Lower prices at the pump are being seen nationwide, as motorists in every state and Washington, D.C. are appreciating cheaper prices than a year ago. Drivers in 48 states and D.C. are paying less than one month ago, led by drops of at least 20 cents in nine states and 33 cents in Montana. Only two states (Ohio and Indiana) are posting higher month-over-month pump prices, and both averages have risen less than a penny and one-half. These also are two of only four states — including Michigan and Hawaii — where prices are higher on the week.

Even as national gas prices have drifted lower, sustained expensive crude oil prices have been an effective floor for how low pump prices could fall. After settling above $100 per barrel for 15 straight weeks, the price of West Texas Intermediate (WTI) crude oil finally settled below this mark on October 21 and has remained there each trading day since. At the close of yesterday's formal trading on the NYMEX WTI settled at $94.62 per barrel, a penny above Friday's settlement price, the lowest since June 21.

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