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:
- Fuel Price Finder (http://www.AAA.com/fuelfinder) locates the lowest fuel price in your area.
- AAA Gas Cost Calculator (http://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses.
- TripTik Mobile (http://www.aaa.com/mobile) drivers can find current gas and electric charging prices along their route.
Next Weekend Gas Watch: Friday, August 23, 2024