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Gasoline prices dip below $3 a gallon in OKC

The lowest prices in town are mostly at south Oklahoma City stations.
by Adam Wilmoth Modified: September 27, 2013 at 10:07 pm •  Published: September 28, 2013
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For the first time in months, John Powell was happy to fill up his car with gasoline Friday.

The Moore resident paid $2.97 a gallon to fill up his Toyota Solara.

“I drive a lot. It helps me when the price goes down this much,” said Powell, who lives in Moore and works in Edmond. “It probably saves me on average $10 or $15 a week.”

David Jasinski, also of Moore, expressed a similar sentiment.

“It's been a long time since the price was this low,” he said. “This will save us some cash.”

The statewide average price for a gallon of regular unleaded gasoline slipped to $3.22 Friday, down more than 11 cents over the past week, according to GasBuddy.com. All 15 of the lowest-priced stations in the Oklahoma City area were below $3 a gallon, with many of the lowest prices in the southwest part of the metro.

The average price is down more than 30 cents over the past month and more than 70 cents from May.

Nationwide, the price averaged $3.44 Friday, down seven cents over the past week.

“Both factors that were pushing the price up have disappeared,” AAA Oklahoma spokesman Chuck Mai said. “We were concerned about hurricanes in the Gulf (of Mexico) and unrest in the Middle East. It looks like at least for now that the Syria situation has softened a bit. The resulting anxiety over what might or might not happen has come down.”

Crude oil falls $7 a barrel

As a result, the price of crude oil has slipped more than $7 a barrel over the past week, pulling the price of gasoline down with it.

Gasoline prices also are down in part because refineries are switching to less expensive winter gasoline blends, GasBuddy.com analyst Gregg Laskoski said.

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by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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