GASOLINE PRICES STILL NEARLY $1 ABOVE YEAR AGO LEVELS IN STATE AND NATION

The Oklahoma average today is 12thlowest among the 50 states.

Tuesday, August 2 – Today’s average price for self-serve regular gasoline in Oklahoma is $3.58 per gallon, 95 cents more than on this date one year ago, according to AAA Oklahoma, despite lower demand and a sluggish economy. Eleven sates have a statewide gasoline price average below Oklahoma’s, led by Arizona at $3.37.

“Commodities markets, including crude oil futures, have been held hostage by global debt concerns since late June of this year when the spotlight shifted to the debt ceiling debate unfolding in Washington,” said Chuck Mai, spokesman for AAA Oklahoma. “Today, after news that an eleventh-hour agreement had been reached, oil initially traded higher but prices have now turned lower over ongoing worry about global debt, poor domestic economic reports and a weakening US dollar.”

The nationwide price average for gasoline today is $3.70, down a half-cent since last Saturday but still 96 cents above the price posted on August 2, 2010. After rising for 25 of the 31 days in July, the national average price has decreased slightly each of the past three days.

Today, Hawaii has the most expensive in the nation at $4.13, followed by Connecticut at $4.06, Alaska $4.02, New York $3.97, and Illinois $3.91.