Oct. 31, 2016 – Oklahoma motorists are being given a treat at the pump this Halloween – a statewide price average that is below $2 per gallon. According to GasPrices.AAA.com, only two states have averages in the sub $2 range today: Oklahoma and Missouri, both at $1.99.

“Although Tulsa’s citywide gas price average today for regular is lower than Oklahoma City’s by seven cents, the cheapest gas can be found at stations in the OKC area – some are as low as $1.69,” said Chuck Mai, spokesman for AAA Oklahoma. “It’s the usual suspects producing lower prices at the pump nationwide: an abundance of product, low demand and no imminent threats domestically or globally that could disrupt production.”

Today’s Oklahoma gasoline price average of $1.99 is 17 cents below the 2016 high of $2.16 posted on June 11 but still 65 below the 2016 low of $1.34 recorded on Feb. 13. The state’s average hasn’t dipped below the $2 mark since Aug. 16 of this year.

 

Today

Last Week

Change From Last Week

9/26/2016

Change From 9/26/2016

Last Year

Altus

$2.018

$2.040

-$0.022

$2.040

-$0.022

$2.023

Ardmore

$1.964

$2.023

-$0.059

$1.991

-$0.027

$2.045

Bartlesville

$1.927

$1.899

$0.028

$1.968

-$0.041

$1.988

Enid

$1.864

$1.924

-$0.060

$1.920

-$0.056

$1.986

Grove

$1.941

$1.978

-$0.037

$1.990

-$0.049

$2.026

Guymon

$2.104

$2.104

$0.000

$2.100

$0.004

$2.164

Idabel

$1.996

$1.996

$0.000

$1.929

$0.067

$1.974

Lawton

$1.871

$1.895

-$0.024

$1.893

-$0.022

$1.907

McAlester

$1.960

$1.993

-$0.033

$1.983

-$0.023

$2.029

Muskogee

$1.861

$1.902

-$0.041

$1.915

-$0.054

$1.957

OKC Metro

$1.968

$1.992

-$0.024

$2.010

-$0.042

$2.083

Ponca City

$2.018

$2.020

-$0.002

$2.023

-$0.005

$2.100

Shawnee

$1.962

$1.997

-$0.035

$1.980

-$0.018

$1.989

Stillwater

$2.078

$2.156

-$0.078

$2.108

-$0.030

$2.168

Tulsa Metro

$1.899

$1.934

-$0.035

$1.962

-$0.063

$2.006

Statewide

$1.990

$2.013

-$0.023

$2.020

-$0.030

$2.087

 

Source: AAA

 

 

 

 

 

Today’s nationwide average price for regular gasoline is $2.21 per gallon, a penny below the price one week ago, the same as one month ago and three cents more than on Oct. 31, 2015.

National gas prices have now dropped for six consecutive days.

Drivers may continue to see prices wobble up and down as traders speculate on the possibility of OPEC countries developing an output agreement over the next month. Additionally, planned and unplanned refinery maintenance continues across the United States and may result in regional fluctuations in gas prices.

                                                    

Central States

Pump prices in much of the Midwest have steadied since last week but are beginning to show signs of volatility which is common for the region. Prices moved slightly up or down across much of the Great Lakes states: Indiana (-4 cents), Wisconsin (-3 cents), Illinois (-2 cents), Ohio (+1 cent).

Planned maintenance will continue this week at BP's massive 430,000-b/d Whiting refinery in Indiana. The refiner helps supply much of the Midwest and any drops in supply resulting from the planned maintenance will likely be balanced by a seasonal drop in demand.

Oil Market Dynamics

Late last week, OPEC officials met in Vienna to hash out the details of a potential production freeze agreement, but several hours of discussions bore no resolution. Iraq and Iran have continued to voice concerns over participating in a production cut, and as a result, negotiations have stalled. Traders will continue to closely monitor OPEC negotiations for any indication of an agreement in the days leading up to the next official meeting scheduled for November 30.  At the close of Friday’s formal trading session on the NYMEX, WTI was down $1.02 to settle at $48.70 per barrel.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.