CHEYENNE, Wyo. — Laramie County’s average gas price fell at double the national decline this week.
It’s the fourth consecutive week the national average price for a gallon of regular gasoline has fallen, this time down 2.2 cents. The average stands at $3.03 per gallon today, the lowest level since May 2021, according to GasBuddy data.
The national average is down 16.7 cents from a month ago and 32.3 cents from a year ago.
The national average price of diesel has declined 0.4 cents in the last week to stand at $3.52 per gallon.
“While the election has come and gone, gas prices have stayed the course, with the national average price of gasoline declining for a fourth consecutive week as seasonal demand weakens and Americans begin to take refuge from falling temperatures,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While some may be surprised by the declines — some 28 states have average gas prices below $3 per gallon — this was anticipated in our annual Fuel Outlook from last December. Looking back at our outlook provides insight into the current drop and what we expect next.
“With the median U.S. gas price now at $2.95 per gallon, the lowest since 2021, it appears to be just a matter of time before the national average falls below $3 per gallon for the first time since May 2021, something we’ve already seen for diesel prices, which many Americans will be thankful for as we get closer to Thanksgiving.”
On Monday, AAA reported the national average price for a gallon of regular gasoline at $3.08 per gallon, down 2 cents from last week. Wyoming’s average is $3.11, down 3 cents from last week. Laramie County’s average is now $3.12, 5 cents lower than last week. That puts the county among the middle of the state’s average gas prices.
Natrona County’s average of $2.87 remains the cheapest in the state by 3 cents, according to AAA. Uinta County has the second cheapest average at $2.90, followed by Weston County at $2.92 per gallon.
The cheapest fuel in Laramie County today is $2.94 at Walmart, 580 Livingston Ave., and Antelope Truck Stop, 4850 Interstate 80, followed by $2.95 at Sam’s Club, 1948 Dell Range Blvd., according to GasBuddy’s report.
Also included in GasBuddy’s report:
OIL PRICES
With the U.S. Presidential election behind us, energy markets, like stock markets, have been trying to sort out what a Trump election win and a major shift in economic policy will mean for oil demand, production, OPEC cooperation, and many other issues. For now, with the future likely to be more friendly to the oil sector, oil markets have struggled, with WTI crude oil falling back below $70/bbl in early Monday trade to $68.75, down $1.62 per barrel, down from last week’s $71.52 per barrel start, and virtually the same as two weeks ago when oil was holding at $68.64. Brent crude oil was also trading lower in Monday morning trade, down $1.53/bbl to $72.34, a drop from last Monday’s $75.04 per barrel tally. As Trump’s administration, fills out, it could lead to major economic shifts, including possible tariffs and changes to tax policy among wider potential changes, with energy markets still sorting out what it all means as Trump begins to fill his cabinet.OIL AND REFINED PRODUCTS
Last week’s report from the EIA showed a 2.1 million barrel rise in U.S. oil inventories, which are 5% below the five-year average for this time of year, while the SPR tacked on another 1.4 million barrels, and stands 10.2% above a year ago. Domestic crude oil production continued to hold at a record level of 13.5 million barrels per day. Gasoline inventories rose a slight 400,000 barrels but are 2% lower than normal for this time of year, while distillate inventories jumped 2.9 million barrels, over 7% above a year ago, but 6% below normal for this time of year. Implied gasoline demand, EIA’s proxy for retail gasoline demand, skipped 331,000bpd to 8.83mbpd. Refinery utilization rose 1.4 percentage points as refiners wrap up seasonal maintenance ahead of the winter, with utilization at 90.5%. Total petroleum inventories are down 1.3% from a year ago.FUEL DEMAND
According to GasBuddy demand data driven by its Pay with GasBuddy™ fuel card, U.S. retail gasoline demand saw a fall of 10.1% for the week ending November 9 (Sun-Sat). Broken down by PADD region, demand fell 10.8% in PADD 1, fell 8.9% in PADD 2, fell 11.8% in PADD 3, fell 17.6% in PADD 4, and fell 10.3% in PADD 5. GasBuddy models U.S. gasoline demand at 7.6 million barrels per day.GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $3.09, $2.79, and $3.19 rounding out the top five most common prices.The median U.S. gas price is $2.91 per gallon, down 5 cents from last week and about 12 cents lower than the national average.
The top 10% of stations in the country average $4.17 per gallon, while the bottom 10% average $2.47 per gallon.
The states with the lowest average prices: Oklahoma ($2.50), Texas ($2.60), Mississippi ($2.65).
The states with the highest average prices: Hawaii ($4.51), California ($4.44), and Washington ($3.92).
Biggest weekly changes: Ohio (-14.1¢), Michigan (-12.6¢), Indiana (-11.3¢), Idaho (-11.0¢), Utah (-10.1¢)
DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $3.49 per gallon, unchanged from last week, followed by $3.39, $3.29, $3.59, and $3.69 rounding out the top five most common prices.The median U.S. diesel price is $3.42 per gallon, down 5 cents from last week and about 10 cents lower than the national average for diesel.
Diesel prices at the top 10% of stations in the country average $4.32 per gallon, while the bottom 10% average $2.88 per gallon.
The states with the lowest average diesel prices: Oklahoma ($2.99), Texas ($3.00), and Mississippi ($3.15).
The states with the highest average diesel prices: Hawaii ($5.29), California ($4.82), and Washington ($4.33).
Biggest weekly changes: Delaware (+9.7¢), Utah (-7.5¢), South Carolina (+6.8¢), South Dakota (-6.7¢), Idaho (-6.4¢). GasBuddy
