Daily Wyoming Gas Map: Sunday, May 8, 2022

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By Tim Mandese, Cowboy State Daily

The price of gas increased on Friday by 2 cents over the previous 24 hours to average $4.16.

The website GasBuddy.com, which tracks national gas prices, reported Wyoming’s average gas price is up 5.4 cents per gallon, from a week ago and by $1.22 per gallon from one year ago.

Wyoming’s average price for gasoline remained below the national average of $4.287 for a gallon of regular.

High and Low Prices:

The highest gasoline price in Wyoming on Friday was in Jackson at $4.78 per gallon. The lowest price was found at the Sinclair Station in Gillette at 802 E. 2nd St., at $3.87 per gallon.

The county with the highest average price was Uinta at $4.50 per gallon. The county with the lowest average was Albany at $3.92 — the only county with an average price beloww $4.

These are the highest and lowest reported prices among those stationed surveyed  

Today’s Big Movers:

Uinta County was up by 37 cents per gallon; Lincoln County was up 31 cents; Converse County was up 8 cents and Sublette County was down 17 cents.

*The average price per gallon of regular in each Wyoming county: 

Albany $3.92; Big Horn $4.16; Campbell $4.00; Carbon $4.16; Converse $4.06; Crook $4.16; Fremont $4.19; Goshen $4.06; Hot Springs $4.25; Johnson $4.18; Laramie $4.10; Lincoln $4.44; Natrona $4.00; Niobrara $4.16; Park $4.22; Platte $4.16; Sheridan $4.10; Sublette $4.16; Sweetwater $4.27; Teton $4.40; Uinta $4.50; Washakie $4.16; Weston: $4.07.

*The lowest price per gallon, reported in major Wyoming cities:

Basin $4.15; Buffalo $3.94; Casper $3.95; Cheyenne $3.93; Cody $4.18; Douglas $3.98; Evanston $4.21; Gillette $3.86; Jackson $4.37; Kemmerer $4.29; Laramie $3.89; Lusk $3.99; Newcastle $3.94; Pinedale $4.29; Rawlins $4.04; Riverton $4.14; Rock Springs $4.26; Sheridan $3.94; Sundance $4.05; Thermopolis $4.18; Wheatland $4.08; Worland $4.08. 

Tim’s Observations:

According to the Energy Information Administration (EIA) Brent Crude’s price will average $108 per barrel in the second quarter of 2022, and $102 per barrel in the second half of 2022. The good news is, it’s expected that the average price per barrel will fall to $93 in 2023. The downside is this price forecast is very uncertain. 

Actual prices will depend on the impact of current and future sanctions imposed on Russia and how the actions of independent corporations affect Russia’s oil production and sale on the global market. 

It is still expected that global oil inventories will increase at an average rate of 500,000 barrels per day through the end of 2023, which will push crude oil prices lower. 

The EIA estimates that 98.3 million barrels per day of petroleum and liquid fuels was consumed globally in March 2022. This is an increase of 2.4 million barrels per day from a year ago. 

The EIA forecasts that global consumption of petroleum and liquid fuels will average 99.8 million barrels per day through 2022. The agency also forecasts global consumption of petroleum and liquid fuels will rise by 1.9 million barrels per day in 2023.

*Note: Prices in this report are for reference only. They are gathered just prior to posting, and may not reflect prices that have changed since last posted.

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