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Oklahomans Paying Lowest August Gas Prices in 11 Years

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OKLAHOMA CITY (AP) — Oklahomans are paying the lowest gasoline prices for this time of year since 2004.

AAA Oklahoma says Tuesday's statewide average of about $2.46 per gallon for regular gasoline is nearly 12 cents below the average posted only seven days ago and puts the state among the 10 states with the largest week-over-week pump price declines.

AAA spokesman Chuck Mai says a sharp drop in crude oil prices has pushed the price of gasoline down to a national average of about $2.58, down almost 23 cents from the 2015 high of $2.80 recorded on June 15.

Mai says prices should continue to fall this autumn due to declining demand and other factors. He says some stations are selling ethanol-enhanced fuel for under $2 per gallon in the Oklahoma City area.