Gasoline prices nationwide, for an average gallon of regular, are $1.83. But in some parts of central Oklahoma, the price is $1.28. As a matter of fact, of the 20 stations with the least expensive gas nationwide, 16 are in Oklahoma, according to GasBuddy.
Most of the Oklahoma stations with gas prices of $1.28 or so sit along a corridor that runs through Tulsa from Muskogee to Shiatook. Oklahoma has an average gas price of $1.53, the lowest in the nation. Oklahoma has the fourth lowest gas and levy rate of all states at $0.354 per gallon. The national average is $0.48, according to the API. The highest is in Pennsylvania at $0.688.
Most of the stations with the highest gas prices in the United States are in and around the large cities in California, which has the highest average price among all states. As a matter of fact, of the 30 stations with the most expensive gas, 26 are in California. These cities include San Francisco, Los Angeles, Thousand Oaks, Studio City, San Bruno, Santa Monica and Glendale.
That national average will go lower, probably much lower. Crude oil prices have dropped to $30. A year ago, the price was nearly $65 a barrel. One main reason for the drop in gasoline prices is the sea of available oil, due in part to a flood from Saudi Arabia, and perhaps to falling demand as the global economy slows. Despite the loud protests of other OPEC members, the kingdom said it will keep pumping.
[ims_survey]
Oil inventory is not the only factor. Proximity to refineries is also an issue. The average gas price in Louisiana is $1.64. In Oklahoma it is $1.53 and in Texas $1.61. All are near the huge refineries south of Houston and on the Gulf of Mexico, which is dotted by deepwater oil drilling platforms.
Gasoline taxes by state are another factor. The average nationwide is $0.48 per gallon. Oklahoma has the fourth lowest gas and levy rate of all states at $0.35 per gallon. The national average is $0.48, according to the API. The highest is in Pennsylvania at $0.688.
California has the fifth highest gas tax in the United States at $0.59 a gallon, which is likely the reason that gas prices are so high across the state. Residents face gas prices at the high end of the national average, if only for that reason.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
