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AAA reports higher gasoline prices likely in Oklahoma

Gasoline prices in Oklahoma reached their highest point in nine months Tuesday, with little hope for relief because of ongoing violence in Iraq, according to AAA.
By Jay F. Marks, Business Writer Published: June 17, 2014

Oklahoma gasoline prices reached their highest level in nine months Tuesday at more than $3.48 a gallon as a civil war rages in Iraq.

AAA Oklahoma said the state’s average price jumped nearly 3 cents overnight Monday after hovering between $3.44 and $3.46 all month. Tuesday’s average of $3.484 was the highest since Sept. 14, according to AAA’s Fuel Gauge Report.

Some cities saw more drastic increases, including drivers in Tulsa who awoke Tuesday to find prices about a dime higher, according to the organization’s weekly price update. AAA tracks daily gasoline prices in 300 Oklahoma cities.

The average price in Oklahoma City on Tuesday was $3.492, up about a nickel from last week.

AAA says ongoing turmoil in Iraq likely will prevent the same drop in June gas prices drivers have enjoyed the past three years, amid fears that hostilities there could disrupt oil production.

Iraq has the world’s fifth-largest proven oil reserves.

The national average Tuesday was $3.664 a gallon, up about 2 cents over last week and a nickel higher than the same date in 2013. It has risen for six consecutive days as violence in Iraq intensifies.

The national average had gone down by about 20 cents a gallon in June over the past three years, but AAA estimates Oklahoma drivers will pay higher prices this summer.

It predicts state gasoline prices will range between $3.35 and $3.55 a gallon, but they could go higher if unrest in Iraq gooses up oil prices.

The state’s highest average price this year was $3.476 on April 16.

Eight states had lower gasoline prices Tuesday than Oklahoma, led by Mississippi at $3.396.

Drivers in Hawaii, California and Alaska are paying more than $4 a gallon, as they have for the past 24 days, according to AAA.