LAS VEGAS - With only a few weeks of summer remaining, fuel prices continue to fall as the state begins the switch to the cheaper winter-blend fuel. Today's state average price of a gallon of unleaded regular gasoline is $3.68. All metro areas are moving downward with the most significant decrease registering in North Las Vegas and Henderson with a 10 cent decrease, since AAA's last fuel gauge report on Aug. 12.
A survey of 13 gas stations in Winnemucca on Wednesday morning found a low of $3.49 a gallon and a high of $3.69 a gallon. The average price of gas in town was $3.54, which is 15 cents lower than August's average and 20 cents less than the September 2013 average.
In all Nevada metro areas tracked by AAA, North Las Vegas is registering the state's lowest pump price, with drivers paying an average price of $3.61 per gallon for unleaded regular gas. Reno registers Nevada's highest price, at $3.82 a gallon. The highest price of gas ever recorded in Nevada was in June of 2008, at $4.27 per gallon of unleaded regular.
"September marks the start of refineries beginning their yearly transition to producing a winter blend of gasoline," said Cynthia Harris, AAA Nevada spokesperson. "This blend is cheaper to produce because it does not need to meet the emissions requirements that are in place to prevent pollution when temperature are warmer, therefore, registering cheaper prices at the pump."
The national average price for regular unleaded gasoline is $3.43 per gallon. Today's national average is fractions of a penny more than one week ago, but it is four cents less than one month ago and 13 cents less than the same date last year. The national average price for retail gasoline historically declines in the weeks after Labor Day, due to the end of the summer driving season and ample supply.
Global markets are vigilant of geopolitical unrest, particularly in Ukraine and Iraq. However, these developments have had little impact on supply and subsequently the retail price of gasoline. News on Friday of a possible ceasefire between Russia and Ukraine put further downward pressure on oil prices.
Despite some reports of violence over the weekend and the announcement today of additional European sanctions on Russia, global oil prices continue to slide. At the close of formal trading on the NYMEX, West Texas Intermediate (WTI) crude oil settled 63 cents lower at $92.66 per barrel. This marks the lowest settlement for WTI since January 14.
To get the best mileage possible, AAA recommends keeping tires at the recommended pressure suggested by the vehicle manufacturer, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair. The way consumers drive may also have an impact on fuel economy: smooth driving helps avoid sudden stops and starts; combining trips or lightening car loads also helps conserve gasoline.[[In-content Ad]]
