By Tim Mandese, Cowboy State Daily
Wyoming’s price of gasoline increased by 2.3 cents on Tuesday over the previous 24 hours, leaving the state with an average price of $4.10 per gallon of regular unleaded.
The website GasBuddy.com, which tracks national gas prices, reported Wyoming’s average gas price is up 10.2 cents per gallon over one week ago, and up $1.21 per gallon from one year ago.
Wyoming’s average price for gasoline remained below the national average of $4.238 for a gallon of regular.
*The average price per gallon of regular in each Wyoming county:
Albany $3.88; Big Horn $4.17; Campbell $4.07; Carbon $4.22; Converse $3.89; Crook $4.08; Fremont $4.16; Goshen $3.97; Hot Springs $4.20; Johnson $4.02; Laramie $3.99; Lincoln $4.29; Natrona $3.98; Niobrara $4.08; Park $4.13; Platte, $4.08; Sheridan $4.05; Sublette $4.08; Sweetwater $4.13; Teton $4.08; Uinta $4.08; Washakie $4.08; and Weston $4.10
*The lowest price per gallon, reported in major Wyoming cities:
Basin $4.15; Buffalo $3.95; Casper $3.89; Cheyenne $3.93; Cody $4.10; Douglas $3.78; Evanston $4.23; Gillette $4.05; Jackson $4.37; Kemmerer $4.28; Laramie $3.84; Lusk $3.89; New Castle $3.92; Pinedale $4.09 Rawlins $3.99; Riverton $4.07; Rock Springs $4.06; Sheridan $3.99; Sundance No Reports; Thermopolis $4.17; Wheatland $3.88; Worland $4.08.
Jackson was the biggest mover today with an increase of 11 cents.
The lowest reported average price continues to be $3.78, in Douglas, while the highest, $1 more per gallon, was found in Jackson at $4.78.
We all know that gasoline consumption goes up in the summer, because people are vacationing and enjoying the season. Ahead of the anticipated demand, how are our inventories of gas and oil doing?
GasBuddy.com reports that in the last six days, inventories of crude oil declined by 2.5 million barrels (MMbbl) to a total of 413.4 MMbbl, down 17.8% from this time last year, and 13% below the 5-year average for this time of year. The Strategic Petroleum Reserve (SPR) decreased 4.2 million barrels from the previous week, a decline of 10.4% from one year ago. Production is remaining level at 11.6 million barrels per day, an increase of 600,000 barrels from a year ago.
On the gasoline side of the equation, gasoline inventories decreased by 2.9 million barrels to a total of 238 million. Inventories are up 5.8 MMbbl, or 2.5% , from a year ago, yet are on par for the 5-year average for the period.
The nation’s refinery output went up 0.7% vs. last week, to reach 91.1% of production capacity, while gasoline production increased to 9.8 million barrels per day in the same seven days.
The total oil supply in the United States is down 12.0%, or 154.9 million barrels per day over a year ago.
*Note: Prices in this report are for reference only. They are gathered the evening before posting, and may not reflect prices that have changed since last posted.