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Gasoline Prices Rising in Oklahoma

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Oklahoma’s gasoline prices are on the rise again. Oklahoma’s statewide average of $2.065 per gallon has risen 14 cents since August 1. The national gas price average is $2.164 per gallon, according to the latest Fuel Gauge Report issued by AAA Oklahoma.

“A quartet of factors is at work here: the U.S. dollar is weakening, demand is high, inventories are still healthy but have fallen lately, and crude oil prices are rising,” said Chuck Mai, a spokesman for AAA Oklahoma. “In fact, West Texas Intermediate closed at $48.52 per barrel last Friday, the highest the benchmark has been since July 1. WTI has climbed $22.31 since hitting $26.21 on February 11 of this year and now there’s quite a bit of concern about a meeting next month at which OPEC and other key exporters will discuss freezing output levels. If they do, WTI could rise even more.”

Lawton has the cheapest gasoline in the state with a $1.90 a gallon average followed by Enid at $1.98 a gallon. Idabel has an average of $1.98 a gallon while McAlester and Shawnee are both averaging $1.99 a gallon. Stillwater is highest with an average of $2.18 a gallon, followed by Ponca City topping the pumps at $2.10 a gallon.

Oklahoma City’s pump price average – $2.07 – is nearly 12 cents more than the price four weeks ago. Tulsa’s average is at $2.06 a gallon. The statewide average is the sixth-fastest in the U.S. and hasn’t been this high since July 2.

Refinery issues are also supporting higher prices at the pump. Several Gulf Coast refineries are undergoing unplanned maintenance as a result of flooding in Louisiana and a refinery fire in Texas.

The increase in gasoline prices moved Oklahoma out of the top ten states with the cheapest prices. Gas prices in nine states are now below $2.00 per gallon: South Carolina ($1.87), Alabama ($1.90), Mississippi ($1.93), Virginia ($1.95), Tennessee ($1.95), New Jersey ($1.96), Arkansas ($1.99), Texas ($1.99), and Louisiana ($1.997).

West Coast drivers continue to pay the highest prices for gasoline. Hawaii drivers top the list at $2.69 a gallon, followed by California ($2.66), Washington ($2.58) and Alaska ($2.55).

Another gasoline website, Gas Buddy, reports the cheapest gasoline is being pumped for $1.79 a gallon at two stations located in southwest Oklahoma City. In the Tulsa metropolitan area, the cheapest gasoline is being pumped for $1.88 a gallon at three Sam’s Club locations.