OKLAHOMA CITY, OK (KSWO) –Abundant supplies and low crude oil prices have kept the average retail price for a gallon of gasoline fairly low across the country.
According to AAA Oklahoma, the national average for a gallon of gasoline is $1.71, the lowest price for Feb. 22 since 2004. Prices have fallen for 41 of the last 47 days, dropping 29 cents per gallon. While drivers are paying about one cent more per gallon this week, the average price is down 13 cents for the month and down 58 cents for the year.
The average price for a gallon of gasoline is below $2 in 45 states, including Oklahoma and Missouri where the average is $1.46. Hawaii has the highest average of $2.57 per gallon. AAA believes averages will go up as we go into the spring refinery season, but they don't think prices will get as high and they have been in recent years.
The refineries going through maintenance will produce less gasoline, but an ample supply of gasoline and low crude oil prices should limit seasonal price spikes.