Oklahoma Gas Prices Nearly a Dollar Less than Last Year

The Week

The national average for a gallon of gas kept up its torrid pace of decline, sinking six cents since last week to $3.24. The primary culprits behind the dip are low demand and falling oil costs. Meanwhile, the national average cost for public EV charging finally moved after a static few months, ticking a penny higher.

In Oklahoma, the gas average is $2.83 today, down 3 cents in the last week and 97 cents less than one year ago. Today’s national average for a gallon of gas of $3.23 is 21 cents less than a month ago and 59 cents less than a year ago.

With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA tracks the average kilowatt-per-hour cost for all levels of public 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 35 cents.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

 

9/13/24

Week Ago

Year Ago

National

$3.23

$3.29

$3.84

Oklahoma

$2.83

$2.86

$3.80

Oklahoma City

$2.85

$2.87

$3.84

Tulsa

$2.78

$2.73

$3.79

Lawton

$2.80

$2.79

$3.49

Crude Oil

$69.16 per barrel (9/13/24)

$67.67 per barrel (9/6/24)

$90.77 per barrel (9/15/23)

CURRENT EV COST AVERAGES

Per kWh of electricity at an L2 commercial charging station

 

9/12/24

Week Ago

National

$0.35

$0.34

Oklahoma

$0.38

$0.38

At the close of Friday’s formal trading session, WTI rose by $1.49 to settle at $69.16 a barrel. The EIA reports that crude oil inventories increased by 0.8 million barrels from the previous week. At 419.1 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

According to new data from the Energy Information Administration (EIA), gas demand fell last week from 8.93 million b/d to 8.47. Meanwhile, total domestic gasoline stocks rose 219.2 to 221.6 million barrels, and gasoline production decreased last week, averaging 9.4 million barrels per day. Tumbling gasoline demand and oil costs will likely keep pump prices sliding.   

The Weekend

“There are an ever-increasing number of states east of the Rockies that have some retail gas locations selling regular for under $3 a gallon, so drivers will have more in their wallets with autumn approaching,” said Rylie Fletcher, AAA Oklahoma spokesperson. “Should the national average fall below $3, it will be the first time since May 2021.”

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

Next Weekend Gas Watch: Friday, September 20, 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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