Gas prices see increase over week

By: 
Amanda Corbin
News Reporter

The average price of regular per-gallon of gasoline in Oklahoma raised 4.3 cents over the last week.

The average was $2.38 on Sunday, according to GasBuddy. The technology company does a daily survey of 2,294 gas outlets across Oklahoma. The national average also increased to $2.45, 0.6 cents higher.

"Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make an unseasonable move higher," said Patrick DeHaan, head of petroleum analysis for GasBuddy.

On Monday afternoon, our area saw these prices, according to GasBuddy:

• Finish Line (Poteau): $2.13.
• Short Stop (Wister): $2.19.
• Phillips 66 (Pocola): $2.19.
• Tote-A-Poke (Poteau, non-ethanol): $2.49.
• E-Z Mart (Shady Point): $2.18.

The average price of regular gasoline in Oklahoma over the past five years from Monday's date: $1.94 per gallon in 2016, $2.05 in 2015, $2.99 in 2014, $3.00 in 2013 and $3.21 in 2012.

"As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance," DeHaan added.

"Meanwhile, exports of crude oil and refined products continue to hit record levels, also weighing on markets. Without the ability to export crude oil, inventories in the U.S. would have continued to increase, keeping pressure on oil prices, but without such protection, oil is flowing out of the U.S. at record pace."

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