Comments Off on Gas Prices Continue to Drop, But Spring Increase Expected

Gas Prices Continue to Drop, But Spring Increase Expected

Average Kansas pump price drops two cents on the week to $2.37/gallon.
TOPEKA, Kan. – Gas prices in Kansas followed a national trend this week, continuing their decline of the past couple of weeks. The average gas price across Kansas is now $2.37/gallon, which is two cents less than one week ago. Motorists in the Sunflower State and across the country, however, should not expect falling prices to continue. AAA will announce its quarterly gas price report later this week, with indicators pointing upward.
“Lower demand for gasoline over the second half of February has given us some relief at the pumps,” said Shawn Steward, AAA Kansas spokesman. “Kansas still has the 13th lowest gas prices in the country, but it is looking like we may all need to prepare to pay more soon.”
MEDIA NOTE: Look for distribution of the AAA Spring Quarterly Gas Report this Thursday, March 1. AAA Kansas public affairs contacts available for interviews and further clarification.
The 10 Kansas cities regularly highlighted by AAA Kansas (see chart below) showed a mixed bag this will, with seven cities experiencing lower gas prices. Lawrence remained flat, while Manhattan (+4 cents) and Pittsburg (+1) rose. Leading the price declines were Garden City (-8) and Emporia and Kansas City, Kan., which both fell four cents per gallon.
According to AAA Kansas, this week’s Kansas gas price extremes are:
HIGH: Kensington (Smith County) – $2.80
LOW: Goddard (Sedgwick County) – $2.19
National Perspective
At $2.52, the national gas price average is the cheapest pump price seen this February. The national gas price average for the month of February is $2.56, which is 29-cents more expensive than the $2.28 average of February 2017. On the week, gas prices decreased 1 cent.
“Gas prices continue to trend cheaper for the majority of motorists as demand for consumer gasoline declines for a second week,” said AAA Kansas’ Steward. “Even with the small drop-off, demand continues to register above 9 million b/d, which is a four percent year-on-year increase, according to the Energy Information Administration’s latest report.
While cheaper gas prices are welcomed by motorists, AAA does not expect the trend to continue.
Great Lakes and Central States Report
Great Lakes and Central states’ gas prices are showing signs of volatility. On the week, the majority of states saw prices decrease, but a handful of states are paying more compared to last week: Michigan (+5 cents) Kentucky (+4 cents),Ohio (+4 cents) Illinois (+3 cent) and Missouri (+2 cents).
With a 10-cent decrease, Indiana saw the largest pump price drop for the region and the country this past week. In the region, Iowa (-2 cents) saw the second largest drop, and at $2.51 sells among the most expensive gas.
Gasoline inventories continue to build week over week since the start of the year. According to the EIA’s latest report, inventories built by 740,000 bbl to total at 58.3 million bbl. Inventories are just 1.8 million below last year this week.
Gas Price Trends in Select Kansas Cities
Today
Last Week
Last Month
Last
Year
Change Over Last Year
National
$2.52
$2.53
$2.57
$2.29
10%
Kansas
$2.37
$2.39
$2.42
$2.16
10%
Emporia
$2.33
$2.37
$2.40
$2.12
10%
Garden City
$2.34
$2.42
$2.37
$2.06
14%
Hays
$2.40
$2.43
$2.42
$2.09
15%
KCK
$2.33
$2.37
$2.45
$2.20
6%
Lawrence
$2.38
$2.38
$2.47
$2.23
7%
Manhattan
$2.40
$2.36
$2.41
$2.14
12%
Pittsburg
$2.41
$2.40
$2.42
$2.16
12%
Salina
$2.27
$2.29
$2.41
$2.07
10%
Topeka
$2.38
$2.41
$2.40
$2.16
10%
Wichita
$2.35
$2.38
$2.43
$2.07
14%
Bordering states and rank in lowest gas prices around the country
State
Current Avg.
Rank Today
Oklahoma
$2.33
10
Missouri
$2.29
5
Kansas
$2.37
13
Colorado
$2.42
19
Nebraska
$2.50
26
AAA Mobile App
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
Filed in: Kansas Tags: 

Get Updates

Share This Post

Related Posts