LAS VEGAS - After enjoying substantial price decreases, Nevadan motorists are starting to see a slight upward movement at the gas pumps. State gas prices are now $0.03 cents more than a month ago, according to the AAA Nevada monthly gas survey.
A survey of 13 gas stations in Winnemucca Friday afternoon morning found a low of $3.19 a gallon and a high of $3.49 a gallon. The average price of gas in town was $3.31, which is six cents more than last month's average and 33 cents higher then the January 2013 average.
Las Vegas has the state's lowest pump price, in metro areas tracked by AAA, with drivers paying an average price of $3.24 per gallon of unleaded regular gas. Sparks registers Nevada's highest price, at $3.49 a gallon, a $0.03 increase from last month's average price. A year ago on this date, Nevada's average gas price was $3.13 per gallon of unleaded regular.
"Extremely cold weather caused refinery issues in some areas and prices increased as a result," said Cynthia Harris, AAA Nevada spokesperson. "In other areas the cold weather decreased demand which put downward pressure on prices. Prices in the majority of states are less expensive than a week ago, however the decreases are minimal."
The national average price is $3.31. This is same as yesterday and a week ago but $0.05 higher than last month's report on Dec. 10, and $0.01 higher than a year ago. The national average price has stayed within a tight range this past month. After reaching a more than two-month high of $3.33 on January 3, the national average price dropped for nine of eleven days. Although the price fell, the decrease was less than $0.02 during this time. Midwestern states, bearing the brunt of extreme winter storms, have seen dramatic increases in their average prices this past week with some increases over $0.20 per gallon.
West Texas Intermediate (WTI) crude oil settled above the $100 per barrel mark one day, Dec. 27, ending a streak of nine consecutive weeks below the three digit threshold. WTI prices have dropped back toward the $90 per barrel threshold. The sharp decline in prices has been attributed to a stronger U.S. dollar, the return of Libyan crude to the global market, further easing of geopolitical tensions with Iran, and continued concerns surrounding weak domestic demand for gasoline. The decline continued yesterday as WTI prices settled 92 cents lower at $91.80 per barrel at the close of formal trading of the NYMEX. This mark is just $0.14 higher than the settlement recorded last Thursday, which was the lowest price since May 1.
Hawaii reports the highest average price in the country, $4.02, and is the only state with an average price over $4.00. Connecticut has the highest price, $3.69, in the contiguous states. Missouri and Montana have the lowest average price, $3.02. No states report an average price under the $3 mark.[[In-content Ad]]
