The Week
Sticking to the slow lane since last week, the national average for a gallon of gas dipped slightly for a few days before rising to $3.16. Seasonal demand trends, higher costs for oil, and routine refinery maintenance will likely push pump prices slowly higher soon. Today’s national average of $3.16 is penny higher than one week ago, nine cents more than a month ago, but 27 cents less than a year ago.
In Oklahoma, the gas average is $2.70 today, up 4 cents in the last week and 48 cents cheaper than one year ago. Today’s national average of $3.15 is five cents more than a month ago but 34 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.14 to 8.81 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 3.1 million barrels to 251 million barrels. Higher gas demand and tighter supply have contributed to elevated pump prices. If demand continues to increase, drivers could see pump prices rise steadily.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.14 to 8.81 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 3.1 million barrels to 251 million barrels. Higher gas demand and tighter supply have contributed to elevated pump prices. If demand continues to increase, drivers could see pump prices rise steadily.
The Weekend
“Prices at the pump have been fluctuating due to higher gas demand and crude oil prices fluctuating in the $70 per barrel range,” said Rylie Fletcher, spokesperson for AAA Oklahoma. “These factors will likely contribute to gas price increases around Valentine’s Day.”
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) plots fuel prices along your travel route.
Next Weekend Gas Watch: Friday, February 16, 2024
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
2/9/24 |
Week Ago |
Year Ago |
|
National |
$3.16 |
$3.15 |
$3.43 |
Oklahoma |
$2.68 |
$2.70 |
$3.12 |
Oklahoma City |
$2.68 |
$2.70 |
$3.12 |
Tulsa |
$2.62 |
$2.68 |
$2.95 |
Lawton |
$2.53 |
$2.55 |
$2.93 |
Crude Oil |
$76.84 per barrel (2/9/24) |
$72.28 per barrel (2/2/24) |
$79.74 per barrel (2/10/23) |