LAS VEGAS - A welcome decline in state gas prices has fueled Nevadan's spirits with yet another drop in prices registering at $ 3.10 on average for a gallon of unleaded gasoline today - that's 30 cents cheaper than prices since AAA Nevada's latest monthly gas survey of Oct. 14.
A survey of 13 gas stations in Winnemucca earlier this month found a low of $2.84 a gallon and a high of $3.09 a gallon. The average price of gas in town was $2.90, which is 31 cents less than last month's average and a 45 cent decrease from the November 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 $3.04 per gallon for unleaded regular gas. Elko registers Nevada's highest price, at $3.25 a gallon. The highest price of gas ever recorded in Nevada was in June of 2008, at $4.27 per gallon of unleaded regular.
"Absent of any unanticipated market-moving events this winter, the retail price for gasoline is expected to remain relatively low," said Cynthia Harris, AAA Nevada spokesperson. "As consumers adjust to falling oil prices, California motorists can enjoy some of the lowest prices during a holiday season since 2009."
The national average price of gas has dropped for 46 days in a row (a cumulative decline of which is the longest consecutive decline since 2008. Today's national average for regular unleaded gasoline is $2.93 per gallon, which is the lowest price since Dec. 4, 2010.
Fueling the decline in gas prices has been the multi-month drop in crude oil costs with prices for West Texas Intermediate down to a multi-year low of $77.19 per barrel last Tuesday. Adding momentum to falling prices last week was an unexpected move by Saudi Arabia, the world's largest oil exporter, to lower the price per barrel for crude sold to the United States. Market watchers are now focused on the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) with analysts paying close attention to how the cartel will respond to falling global prices.
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