While the average price of gasoline continues to drop across the country, a national analyst says that trend may not persist after the Organization of the Petroleum Exporting Countries decided to cut oil production.
The average price of gasoline in Oklahoma has fallen 11.6 cents per gallon over the last week.
According to GasBuddy, prices at the pump are now 28.0 cents lower than a month ago but stands at 40.0 cents higher per gallon than last year.
The most expensive station in Oklahoma has gas priced at $3.70, which is in Major County. The lowest price is $3.25 at gas stations across the state.
The head of petroleum analysis for GasBuddy said the price of gas nationally has declined for 12 straight weeks.
However, due to OPEC's decision to cut oil production by 100,000 barrels per day, Patrick De Haan said continuing that decline might be a challenge.
“The national average has declined for 12 straight weeks, the longest tally since 2018, and it could soon eclipse that mark if we see two more weeks of decline. Though, that may be more challenging given OPEC’s decision yesterday to cut oil production,” De Haan said.
As a result, De Haan said gas prices could be a very mixed bag for motorists in the coming days.
“For now, price movements will be contingent on where you are, with California seeing some minor increases, while the Great Lakes could see an upward move as BP’s refinery outage has had an impact on supplies," De Haan explained. "In addition, there are several disturbances in the Atlantic to keep an eye on, but we do switch back to cheaper winter gasoline in just over a week which should provide some additional relief.”
GasBuddy reports that the price for oil is slightly higher following OPEC's decision on Monday.
The national average price of diesel has declined 2.0 cents in the last week and stands at $5.02 per gallon.
For more information on gas prices,visit the organization's website.
