By Tim Mandese, Cowboy State Daily
Wyoming’s gasoline price dropped by 1.2 cents on Tuesday from the previous 24 hours, leaving the state with an average price of $4.05 per gallon of regular unleaded.
The website GasBuddy.com, which tracks national gas prices, reported Wyoming’s average gas price fell by 4.6 cents per gallon from one week ago and increased by $1.19 per gallon from one year ago.
Wyoming’s average price for gasoline remained below the national average of $4.167 for a gallon of regular.
*The average price per gallon of regular in each Wyoming county:
Albany $3.87; Big Horn $4.06; Campbell $4.06; Carbon $4.10; Converse $3.93; Crook $3.99; Fremont $4.16; Goshen $3.94; Hot Springs $4.10; Johnson $4.01; Laramie $3.97; Lincoln $4.06; Natrona $3.91; Niobrara $4.06; Park $4.14; Platte, $4.06; Sheridan $4.01; Sublette $4.06; Sweetwater $4.18; Teton $4.40; Uinta $4.06; Washakie $4.06; and Weston $4.09
The big movers today are Lincoln County, up 23 cents per gallon, and Teton County, up 34 cents.
*The lowest price per gallon, reported in major Wyoming cities:
Basin $4.15; Buffalo $3.95; Casper $3.89; Cheyenne $3.94; Cody $4.10; Douglas $3.78; Evanston $4.25; Gillette $3.99; Jackson $4.37; Kemmerer $4.29; Laramie $3.85; Lusk $3.99; New Castle $3.92; Pinedale $4.13; Rawlins $3.99; Riverton $3.99; Rock Springs $4.09; Sheridan $3.98; Sundance $3.97; Thermopolis $4.07; Wheatland $3.88; Worland $4.08.
For the second consecutive week, gas prices have fallen, but only slightly. They have dropped about 5.4 cents per gallon nationally in the last week alone. This price drop coincides with a rise in oil production for the same two week period.
Though prices have fallen, they are still up 25.5 cents per gallon compared to what was seen prior to last month’s price spike.
Even with a ramping up of oil production, according to the Energy Information Administration (EIA), last week saw a 3.4 million barrel decline in crude oil inventories, which are now 18% lower than one year ago.
With the announcement that the federal government would release 180 million barrels of crude oil from the Strategic Oil Reserve beginning in May, the price of oil fell to less than $100 per barrel in the second half of the week.
The release of oil from the Strategic Oil Reserve is not expected to have a long lasting effect on gas prices or oil futures heading into the summer driving season.
*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.