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Oklahoma has lowest average fuel price for second week

(Source KSWO) (Source KSWO)

OKLAHOMA CITY, OK (KSWO) –After rising seven cents per gallon since Saturday, AAA Oklahoma says Oklahoma still has the lowest average price for a gallon of gasoline.

AAA Oklahoma says the average price for a gallon of gasoline in Oklahoma is $1.407, rising from the Saturday low of $1.34. Even with the increase, Oklahoma still has the lowest average price for the second week in a row.

“Normally, given the time of the year, we would expect to see pump prices rise,” said Chuck Mai, spokesman for AAA Oklahoma. “Demand is building and refineries are starting to re-tool, putting a crimp in supply. But nothing about gas prices over the last 18 months has been typical. We’ll just have to wait and see if these last three days turn into a trend.”

AAA Fuel Average

The national average price of $1.70 is the first time it’s increased in 20 days, which is still well below what we saw just a few years ago. The national average has fallen for 42 out of 47 days, dropping $0.30 per gallon. The national average is $0.55 lower than it was one year ago.

Refinery production is expected to drop as they prepare for seasonal maintenance for the summer. Additionally, some refineries have cut production because of low prices and an abundant supply.

Industry analysts expect the maintenance season to peak in April and pump prices should rise in the coming months.

Copyright 2016 KSWO. All rights reserved.

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