Gasoline prices continue to fall in Oklahoma

Oklahoma's average gasoline price has dropped 23 cents over the past two-plus weeks, allowing some Oklahoma City area drivers to fill up for less than $3 a gallon on Monday.
BY JAY F. MARKS jmarks@opubco.com Published: September 27, 2011
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Some Oklahoma City area drivers found an unexpected treat Monday when they went to fill up their gas tanks: gasoline for less than $3 a gallon.

About a dozen gas stations dipped below the $3 mark on Monday, according to oklahomacitygasprices.com.

Oklahoma's average price continues to drop as well, falling 23 cents over the last 17 days, according to AAA Oklahoma.

Monday's average of $3.341 a gallon was the state's lowest in more than six months, AAA Oklahoma spokesman Chuck Mai said. Oklahoma City averaged $3.253 a gallon on Monday, while Tulsa drivers paid an average of $3.331.

“These lower prices are largely the result of worsening economic conditions worldwide, which are driving down crude oil prices as well as expectations for future demand for oil,” Mai said. “At the same time, the U.S. dollar has been gaining strength, giving oil prices even more downward momentum.

Another factor in lower prices, he said, is refineries now have completed their transition to making cheaper-to-produce winter blends of gasoline.

Mai also said concerns about the softening global economy and Europe's ongoing debt crisis have slashed crude oil prices, with West Texas Intermediate hovering about $81 a barrel.

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