The Week

The national average for a gallon of gas hit $3.43, falling by just 2 cents since last week. Meanwhile, the national and state averages for L2 commercial electricity remained the same as the previous two weeks.

In Oklahoma, the gas average is $3.04 today, down 2 cents in the last week and 58 cents less than one year ago. Today’s national average for a gallon of gas is $3.43, 8 cents less than a month ago and 44 cents less than a year ago.

With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA lists the kilowatt-per-hour cost for Level 2 (L2) commercial charging by state.

In Oklahoma, the average for a kilowatt of electricity at an L2 commercial charging station is 38 cents. The national average is 34 cents.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

 

8/16/24

Week Ago

Year Ago

National

$3.43

$3.45

$3.87

Oklahoma

$3.04

$3.06

$3.62

Oklahoma City

$3.09

$3.07

$3.62

Tulsa

$2.88

$2.98

$3.61

Lawton

$3.03

$2.95

$3.43

Crude Oil

$76.78 per barrel (8/16/24)

$76.84 per barrel (8/9/24)

$81.25 per barrel (8/18/23)

 

 

 

 

 

 

 

 

CURRENT EV COST AVERAGES

Per kWh of electricity at an L2 commercial charging station

 

8/15/24

Week Ago

National

$0.34

$0.34

Oklahoma

$0.38

$0.38

 

 

 

 

At the close of Friday’s formal trading session, WTI fell by $0.08 to settle at $76.78 a barrel. The EIA reports that crude oil inventories increased by 1.4 million barrels from the previous week. At 430.7 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.

According to new data from the Energy Information Administration (EIA), gas demand edged higher last week from 8.96 million b/d to 9.04. Meanwhile, total domestic gasoline stocks fell from 225.1 to 222.2 million barrels. Gasoline production decreased slightly last week, averaging 9.7 million barrels per day. Tepid gasoline demand and stable oil costs may cause pump prices to slide further.

The Weekend

“Summer is wrapping up soon, and so far, gas prices have barely wobbled,” said Rylie Fletcher, AAA Oklahoma spokesperson. “But we still have a long way to go with hurricane season, so it’s too soon to declare that pump prices have started their usual Autumn swoon.”

AAA has a variety of resources to help motorists save on fuel:

Next Weekend Gas Watch: Friday, August 23, 2024

About AAA:
AAA provides automotive, travel, and insurance services to more than 64 million members nationwide and more than 400,000 members in Oklahoma.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  AAA is a non-stock, membership corporation working on behalf of motorists, who can map a route, find local gas prices and electric vehicle charging stations, discover discounts, book a hotel, and track their roadside assistance service with the AAA Mobile app (AAA.com/mobile) for iPhone, iPad and Android.  For more information on joining or renewing a Membership, visit www.AAA.com.

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