GasBuddy: Gas prices could continue to fall

Oklahoma gas prices have fallen 1.5 cents per gallon in the past week, averaging $1.85/g Monday, according to GasBuddy's daily survey of 2,294 stations. Gas prices in Oklahoma are 3.6 cents per gallon lower than a month ago and stand 48.2 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Oklahoma was priced at $1.57/g Monday while the most expensive was $2.29/g, a difference of 72.0 cents per gallon. The lowest price in the state Monday was $1.57/g, while the highest is $2.29/g, a difference of 72.0 cents per gallon.

The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.17/g Monday. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

Historical gasoline prices in Oklahoma and the national average going back 10 years:

Oct. 5, 2019: $2.33/g (U.S. Average: $2.66/g)

Oct. 5, 2018: $2.70/g (U.S. Average: $2.91/g)

Oct. 5, 2017: $2.25/g (U.S. Average: $2.50/g)

Oct. 5, 2016: $2.02/g (U.S. Average: $2.25/g)

Oct. 5, 2015: $2.15/g (U.S. Average: $2.29/g)

Oct. 5, 2014: $3.06/g (U.S. Average: $3.29/g)

Oct. 5, 2013: $3.13/g (U.S. Average: $3.34/g)

Oct. 5, 2012: $3.64/g (U.S. Average: $3.79/g)

Oct. 5, 2011: $3.22/g (U.S. Average: $3.39/g)

Oct. 5, 2010: $2.63/g (U.S. Average: $2.72/g)

Neighboring areas and their current gas prices:

Tulsa — $1.85/g, down 2.1 cents per gallon from last week's $1.87/g.

Oklahoma City — $1.82/g, down 4.7 cents per gallon from last week's $1.87/g.

"It's been a fairly quiet week for gas prices yet again, but with oil tanking last week, there's a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead," said Patrick De Haan, head of petroleum analysis for GasBuddy. "However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak. While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week's gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA's once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

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