Gas prices down a dime in the last 20 days

Posted on: 3:34 pm, December 18, 2013, by

Gas prices down

OKLAHOMA – According to AAA Oklahoma,  Pump prices in Oklahoma and 35 other states and Washington, D.C. are trending lower, including ten states where retail prices have dropped by a nickel or more over the last week.

Fueling the fall in gasoline prices is the resolution of production concerns at refineries in the Gulf Coast and limited seasonal demand.

With just 13 days remaining in 2013, the national average retail price of gasoline continues to fall, even as the daily difference in the year-over-year price is dwindling.

At the close of yesterday’s formal trading on the NYMEX, WTI settled 88 cents higher at $97.48 per barrel, just pennies higher than the price one week ago.

Today’s national average price at the pump is a penny more expensive than one month ago but four cents less expensive than one week ago and three cents below the price on Dec. 17, 2012.

The year-over-year difference in price has closed to its narrowest level since August 6.

After increasing for 15 consecutive days November 12-27, the national average has fallen for 17 of 20 days but remains four cents above the low for the year, which was $3.18 on November 12.

National pump prices registered a 2012 low of $3.22 on December 20, while the price during the second half of 2011 bottomed at $3.21 on December 21.