OKLAHOMA’S PRE-JULY 4th GAS PRICES ARE SECOND-LOWEST IN THE NATION, AAA SAYS

NEWS from AAA Oklahoma, June 30 – Oklahoma’s gasoline price average has dropped eleven cents over the last ten days, according to AAA Oklahoma. Whether the downward trend continues remains to be seen but for now, Oklahoma boosts the second-lowest state gas price average in the nation.

AAA’s Fuel Gauge Report (www.fuelgaugereport.com) shows the state average for self-serve regular now stands at $2.438, about a nickel more than price averages in both Oklahoma City and Tulsa. Today’s state average is 95 cents above the average recorded on Jan. 1 of this year but $1.43 below the price one year ago.

“Oil prices seem to be in somewhat of a holding pattern right now, “ said Chuck Mai, AAA Oklahoma spokesman. “They’ll be up a couple bucks one day and down a couple the next but still hovering around $70 per barrel after doubling in price from March to June. International events continue to impact oil prices on the futures markets.”

Only Missouri at $2.414 has a lower statewide gasoline price average today than Oklahoma, according to AAA. Hawaii has the nation’s highest at $3.117, followed by Alaska $3.013, California $2.990, Washington state $2.873 and New York $2.837.

One key factor driving retail gas prices will be summer demand, which may be muted this year when compared to previous years. AAA projects July 4th highway travel to dip nearly three percent from July 4th 2008 levels. However, overall travel will only be down 1.9 percent nationally, thanks to an expected increase of almost five percent in air travel over the 4th compared to one year ago.

AAA’s Leisure Travel Index for the upcoming holiday shows average airfares down 16 percent from last year and hotel and motel room rates down about twelve percent. Rental cars, however, will average $51 per day compared with $49 last year.