Gas Prices In OKC Rise 1.4 Cents In Past Week

Prices in Allen County went from $2.24 last week to $2.12 early Monday, and the average price in Shelby County fell from $2.20 to $2.08.

Including the change in gas prices in IL during the past week, prices are nearly 7 cents lower than one year ago and 5 cents lower than a month ago.

"We're likely to again see...gas prices rising in most areas, falling in a few, and perhaps changing little in a handful of places as well", he said.

The average of $2.252 per gallon on Monday compared with $2.211 a year ago, according to the AAA data, which relies on data collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with Oil Price Information Service and Wright Express. That helped push oil prices higher last week, which puts upward pressure on prices at the pump. The increase on the retail-side may only amount to as much as 5 cents by the end of the week.

Nationally, prices are higher than a year ago.

The global glut of oil, including rising US production levels, has kept the industry from rebounding too much since a two-year oil bust that began in late 2014.

The average cost of fuel in the state of Nevada was $2.74 cents per gallon, which was 2.6 cents lower than the previous week.

At the close of Friday's formal trading session on the NYMEX, West Texas Intermediate, a benchmark oil price, was up 46 cents to settle at $46.54 per barrel.

The reason is falling crude prices. This compares with the national average, which has fallen 1.7 cents in the last week to $2.24.

Still, AAA spokesman Mark Jenkins said, prices at the pump could show a jump soon.

Vanessa Coleman

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