Oklahoma has the lowest gas prices in the nation, according to GasPricesAAA.com. However, another gas prices reporting agency showed Pawhuska has some of the highest gas prices in the state.
According to gasbuddy.com, gasoline in Pawhuska was selling at $2.08 per gallon of regular unleaded.
According to GasPricessAAA.com, A gallon of regular unleaded gasoline cost an average of $2.013 on Monday in Oklahoma. Arkansas, the second lowest state, came in at $2.025 per gallon of regular unleaded.
Oklahoma’s average is four cents lower than a week ago, but just 1.5 cents below the Sept. 19 average.
The average price for a gallon of regular unleaded gas in Bartlesville Monday was $1.899. Lawton claimed the lowest gas prices in the state with $1.895. The Tulsa Metro area reported a $1.934 per gallon of regular unleaded price, while it was $1.992 in the Oklahoma City Metro area.
“The stars appear aligned to bring about relatively low gas prices right on through to the end of the year,” said Chuck Mai, AAA Oklahoma spokesman. “Demand is down, refineries have successfully switched to making cheaper-to-produce winter-grade gasoline and worldwide supplies are good.”
Monday morning, Iraq announced it would not participate in a potential OPEC production cut agreement. The Iraqi State Oil Monitor suggested that Iraq couldn’t afford to lose any further market share and wouldn’t benefit from a production freeze.
Last week, Russian Energy Minister Alexander Novak said he plans several meetings with OPEC nations to discuss a freeze on oil output, which would reduce supplies and raise prices.
OPEC countries are scheduled to formally meet on Nov. 30.
Oil prices rose 91 cents per barrel last week, the third consecutive weekly increase. However, prices barely maintained the $50-per-barrel level because of doubts about OPEC supply reductions, said Patrick DeHaan, an analyst with gasbuddies.com.
“Oil prices remain at elevated levels, and are well supported as OPEC’s main meeting in Vienna draw closer,” DeHaan said.
“While cutting oil production could act as a floor to oil prices, U.S. frackers are carefully watching the situation again, and may enter the market again after getting out of the market due to low oil prices the last two years.”