77°F
weather icon Clear

Gas prices in the West lead the USA

At $2.85, the national gas price average is five cents cheaper than a week ago, 12-cents less than a month ago, but 58-cents more than a year ago, AAA announced this week.

Gas prices in the USA have consistently been declining since Memorial Day. On the week, 49 states saw pump prices drop and motorists in Indiana and Michigan saw double-digit declines.

Pump prices in the West Coast region are among the most expensive in the country: Hawaii ($3.73), California ($3.68), Washington ($3.44), Alaska ($3.41), Oregon (3.30), Nevada ($3.28) and Arizona ($3.05). On the week, the majority of prices in the region continue to decline, with California and Nevada leading the way at three cents each. Only Hawaii saw a slight increase by a penny.

Gas prices in Pahrump ranged from $2.79 to $2.89 on Monday, according to a survey by gasbuddy.com. In Tonopah, the prices ranged from $3.49 to $3.59. In Las Vegas, the range was $2.95 to $3.24.

The nation’s top 10 least expensive markets are: South Carolina ($2.50), Mississippi ($2.54), Alabama ($2.54), Oklahoma ($2.56), Louisiana ($2.57), Arkansas ($2.60), Tennessee ($2.60), Virginia ($2.61), Ohio ($2.61) and Missouri ($2.63).

The nation’s top 10 largest weekly decreases are: Indiana (-14 cents), Michigan (-13 cents), Ohio (-9 cents), Illinois (-8 cents), Kentucky (-7 cents), Missouri (-6 cents), Florida (-5 cents), Texas (-5 cents), Kansas (-5 cents) and South Carolina (-5 cents).

In the USA, gas prices may be poised to drop even more following OPEC’s announcement that the cartel will increase production, AAA said. Regardless, the production increase is expected to decrease crude prices and in turn, drive down gas prices later this year.

“The OPEC production increase will help to offset concerns of shrinking global supply caused by high global demand this year,” said Jeanette Casselano, AAA spokeswoman. “For drivers in the U.S., pump prices likely will not see an impact immediately. Changes, and most likely not dramatic ones, are anticipated to hit pump prices late summer or early fall.”

The cartel made the production decision after the U.S., China and India voiced support for an increase to prevent an oil deficit that could stifle economic growth in the latter half of 2018. The production increase will occur ahead of this December’s expected dissolution of OPEC’s production reduction agreement, which has worked to reduce global oil supplies and increase the global price of crude since the beginning of 2017.

Oil prices trended higher last week as the market digested OPEC’s announcement and analyzed its potential impact, AAA said. This analysis is likely to continue influencing prices this week to determine if the supply increase will help to stabilize global crude prices.

In other news, the U.S. lost one oil rig last week, according to Baker Hughes Inc., bringing the total number of rigs to 862. However, there are still 104 more rigs now than a year ago at the same time, AAA said.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Regents name Sandoval next president of UNR

The Nevada System of Higher Education Board of Regents on Thursday announced the appointment of former Gov. Brian Sandoval at the University of Nevada, Reno’s next president.

Ruth Bader Ginsburg dies at the age of 87

Supreme Court Justice Ruth Bader Ginsburg died Friday from complications from cancer, the Supreme Court announced.

Searchers find deceased hiker in Death Valley

A team of Death Valley National Park rangers and an Inyo County sheriff deputy located a deceased hiker on the morning of Sept. 7 roughly a mile from the Zabriskie Point trailhead.

Nevada reports 501 new cases of COVID-19

Nevada reported 501 new cases of COVID-19, COVID-19 Response Director Caleb Cage and Deputy Administrator of Community Health Services Julia Peek announced Friday at their daily teleconference with the media.

Hundreds remember Dusty Park at Pahrump Valley Speedway

It was billed as a Celebration of Life for Dusty Park, and much of the afternoon felt like a celebration. There was laughter and sharing stories among the several hundred people who gathered Sunday at Pahrump Valley Speedway to remember him.

Local RSVP program still active despite COVID-19

The Nevada Rural Counties Retired and Senior Volunteer Program in Pahrump is looking for a few good men and women to help provide services to area seniors.

Attorneys general enlisted in fight against youth suicide

Forty attorneys general across the nation, including Nevada’s Aaron Ford, are working with the Jason Foundation as ambassadors to address the public health issue of youth and young adult suicide.

Highway 160 southbound closed by morning crash

No serious injuries were reported following a two-vehicle crash at the intersection of state Route 160 and 372, just before 8:30 a.m., on Wednesday, Sept. 16.

Nevada unemployment dips below worst rate of Great Recession

Jobs in Nevada increased by 0.5% in August compared to 1.0% nationally according to the Nevada Department of Employment, Training and Rehabilitation’s August 2020 economic report.