LAS VEGAS - As the busy holiday travel season rapidly approaches, state motorists are finally starting to see a dip in prices at the pump. The average price of gas, which has been creeping up in the last month, is now beginning to decline since a week ago. Nevada's average price for a gallon of unleaded regular gasoline is $3.80, according to the AAA Nevada monthly gas survey.
A survey of 13 gas station in Winnemucca Wednesday morning found a low of $3.73 a gallon and a high of $3.99 a gallon. The average price of gas in town was $3.81, which is 22 cents more than April's average and one centts less than the May 2013 average.
North Las Vegas is registering the state's lowest pump price, in metro areas tracked by AAA, with drivers paying an average price of $3.70 per gallon of unleaded regular gas. Reno registers Nevada's highest price, at $4.04 a gallon, since AAA's last gas survey on April 8. A year ago on this date, Nevada's average gas price was $3.75 per gallon of unleaded regular.
"Even though today's prices are higher than a month ago, all metro areas are experiencing a steady decline since last week, which is typical for this time of year, following the conclusion of refinery maintenance before the May 1 deadline to begin producing summer-blend fuel," said Cynthia Harris, AAA Nevada spokesperson. "Barring any unforeseen refinery maintenance issues that could push up Nevada gas prices temporarily, state prices should continue to fall as we approach the Memorial Day holiday."
The national average price per gallon today is $3.64 and has now fallen for 14 straight days, which is the longest streak since prices dropped 36 days in a row from September 1-October 7 of last year. Another factor keeping downward pressure on prices through the summer is the country's record high stockpile of gasoline. Due to increased supplies and the relative absence of disruptions in production and distribution, drivers in many states are likely to see prices continue to fall.
Political tensions between in Russia and the Ukraine have kept oil prices elevated, and market analysts suggest it is unlikely that the tensions will ease in the near future. At the close of formal trading on the NYMEX, WTI closed $0.60 higher at $100.59 per barrel. Today marks WTI's first settlement above $100 after back-to-back settlements below this threshold. Including today's settlement, WTI has now registered 45 settlements above $100 in 2014 and 45 settlements below.
The highest average price of gas tracked by AAA in the nation is in Hawaii, where consumers are paying $4.37 per gallon of unleaded regular gasoline.
To get the best mileage possible, AAA recommends keeping tires at the proper 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 you drive can also impact fuel economy. Smooth driving to avoid sudden stops and starts, combining trips and lightening your load also helps conserve gasoline.
[[In-content Ad]]
