Going Up?
Kansas gas prices creeping upward on the week
August 8, 2016- Kansas gas price average today is up from $2.01 last week and has now gone up to $2.06 (About the same price as a month ago). The national average is holding steady on the week at $2.12. Kansas City, KS saw a nine cent jump on the week to $2.19, Lawrence is up six cents on the week to $2.18. Topeka shot up 10 cents on the week to $1.99, still 54 cents less than this time last year. Wichita also saw an increase on the week with a nine cent bump to $2.07. The lowest price averages in Kansas are located in Galena at $1.85 and Cimarron at $1.87. The highest is in Wilson at $2.30. Even with a bump in averages, the margin of savings from last year is still in the 20% range. This time last year saw a small bump in prices.
After dropping 54 of 55 days, the national average price of gasoline at the pump has held steady over the past week but has declined each of the past four days. The national average price for regular unleaded is $2.12 per gallon, which is the lowest price for this date since 2004. Today’s price is fractions of a penny more than one week ago, but is nine cents less than one month ago and 54 cents less than the same date last year.
today
last week
last month
last year
Change from a year ago
National
$2.12
$2.12
$2.22
$2.67
-20%
Kansas
$2.06
$2.01
$2.07
$2.57
-20%
Emporia
$2.01
$2.00
$2.07
$2.50
-19%
Garden City
$2.01
$2.00
$2.07
$2.43
-18%
Hays
$2.00
$2.02
$2.00
$2.60
-23%
KCK
$2.19
$2.11
$2.11
$2.66
-18%
Lawrence
$2.18
$2.12
$2.12
$2.64
-18%
Manhattan
$2.00
$2.01
$2.08
$2.46
-19%
Pittsburg
$1.91
$1.90
$1.97
$2.49
-23%
Salina
$1.96
$1.96
$2.03
$2.58
-24%
Topeka
$1.99
$1.89
$1.96
$2.54
-21%
Wichita
$2.07
$1.98
$2.05
$2.58
-20%
Bordering states and rank in lowest gas prices around the country
Colorado $2.12 25th
Kansas $2.06 17th
Missouri $2.01 11th (tied)
Nebraska $2.15 25th
Oklahoma $1.99 11th (tied)
“Motorists in the Midwest are used to these sorts of price swings, as low supply and the resulting sensitivity to production and distribution issues have caused sharp price increases when refineries go offline, followed by rapid decline in prices when those issues are resolved,” said Jim Hanni, AAA Spokesperson. This recent volatility has been underpinned by reported issues at the BP facility in Whiting, Ind. (the region’s largest refinery in Indiana) combined with data from the Energy Information Administration showing that regional supplies, while historically robust, are dropping.
(See Attached)
As of yesterday, approximately 41 percent of gas stations nationwide were selling gasoline for $2.00 per gallon or less, a slight increase from the 43 percent last week but a sharp contrast to the tenth of a percent below this threshold on this date in 2015. Eight percent of stations nationwide are selling gasoline for more than $2.50 per gallon, down slightly from the nine percent of stations one month ago and substantially from the 56 percent one year ago.
“With gasoline supplies high and oil prices still relatively low, pump prices are likely to remain cheap through the rest of the summer and into the fall and could even dip back below $2.00 per gallon once the summer driving season is complete,” added Hanni. However, a major market-moving event, like a hurricane or increasing crude oil costs, is not out of the question and could still offset this decline and temporarily drive pump prices higher.
National Average Gas Price Comparison 2013-2016
AAA provides automotive, travel and insurance services to 56 million members nationwide and 331,566 members in Kansas. AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years. The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android. For more information, visit www.aaa.com.