Average retail gasoline prices in Kansas have fallen 8.9 cents per gallon in the past week, averaging $3.23 per gallon Sunday, according to GasBuddy’s daily survey of 1,329 gas outlets in Kansas. This compares with the national average that has fallen 4.2 cents per gallon in the last week to $3.38.
Lows as of Tuesday morning were reported by the website GasBuddy.com in Topeka at $2.96, and $3.01 in Pittsburg and Baxter Springs. The highs were $3.69 in Garden City and $3.59 in McPherson and Dodge City.
In Great Bend, prices ranged from $3.34 to $3.55. Larned recorded $3.38.
Including the change in gas prices in Kansas during the past week, prices yesterday were 46.7 cents per gallon lower than the same day one year ago and are 37.5 cents per gallon lower than a month ago. The national average has decreased 21.4 cents per gallon during the last month and stands 41.9 cents per gallon lower than this day one year ago.
“The national average has continued its decline which has been continuing for 34 consecutive days,” said GasBuddy.com senior petroleum analyst Patrick DeHaan. “And the odds are very good that prices will continue to decline in most areas in the week ahead.”
Perhaps most notable at this point of decline is how much cheaper gas prices stand versus the same date last year, with motorists realizing prices that are 50 cents or more lower, he said. “Much of the difference can be blamed on more active Atlantic waters last year that brought more storms than what we’ve seen this year.”
Meanwhile, the American Automobile Association expects that retail prices will continue lower in the coming months, as sufficient supplies, flat demand and cheaper winter-blend gasoline mean motorists are likely to pay less to fill their tanks. Barring a hurricane or other unexpected disruption to gasoline production and distribution, the national average could fall to $3.10-20 per gallon by Christmas, which would be the lowest mark since February 2011.
Despite falling retail gas prices and recent political and economic uncertainty brought about by the federal government shutdown, the price of West Texas Intermediate crude oil has remained above $100 per barrel for more than three months, the AAA reported. Even with a slight decline in today’s trading, this streak continued as WTI settled 81 cents lower at $103.03 per barrel at the close of today’s formal trading on the NYMEX.