The Week

As temperatures heat up across much of the country, gas prices continue their cool down that began several weeks ago. The national average for a gallon of gasoline remains unchanged this week at $3.45 per gallon. Lackluster gasoline demand and plentiful supplies remain the key factors impacting pump prices.

In Oklahoma, the gas average is $3.00 today, down one cent in the last week and 19 cents less expensive than one year ago. Today’s national average is $3.45, 14 cents less than a month ago and 13 cents less than a year ago.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

 

6/21/24

Week Ago

Year Ago

National

$3.45

$3.45

$3.58

Oklahoma

$3.00

$3.01

$3.19

Oklahoma City

$2.99

$3.04

$3.20

Tulsa

$2.98

$2.96

$3.10

Lawton

$2.87

$2.91

$3.02

Crude Oil

$80.73per barrel (6/21/24)

$78.46 per barrel (6/14/24)

$68.91 per barrel (6/23/23)

At the close of Friday’s formal trading session, WTI increased nearly $3 (or just about 3%) on the week to settle at $80.73 per barrel. The increased threat for widening conflict in the Middle East that could impact the flow of crude oil in that region was the driving force behind the weekly increase in crude oil prices.

The Weekend

“Gas prices have cooled off in many areas across the country just as summer temperatures heat up,” said Rylie Fletcher, spokesperson for AAA Oklahoma. “However, with the Independence Day holiday less than two weeks away, we could see increased demand push prices higher as a record number of travelers are planning road trips for the first official summer holiday.”

AAA projects a record 60.6 million people will travel by car over Independence Day week – that’s an additional 2.8 million travelers compared to last year. This year’s number also surpasses 2019 when 55.3 million people traveled by car over July 4th week.

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

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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