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December 22, 2013

Gas prices remain low for holidays

DUNCAN — As people prepare to leave town for Christmas, gas prices in Duncan increased about 6 cents from last Friday to the beginning of the week. That being said, gas prices are still among the lowest this year.

AAA has noted that prices are lower than they were last week, last month, six months ago and this time last year.

“Pump prices in Oklahoma and 35 other states and Washington, D.C. are trending lower, including ten states where retail prices have dropped by a nickel or more over the last week,” AAA said in a release Tuesday. “Fueling the fall in gasoline prices is the resolution of production concerns at refineries in the Gulf Coast and limited seasonal demand.”

At that time, the statewide gas average was $2.913. On Friday, Duncan’s gas prices went up to $2.899, which is where prices had been Dec. 4. This was an increase from Monday, when gas prices were at 2.839 in Duncan.

On Saturday, a person could fill a 15 gallon tank with $44.72. Last week, the average cost to fill a 15 gallon tank was $45.64. Last month, it would take $46.12, which was the same for this time last year. To fill a 15 gallon tank six months ago, a person would have spent an average of $53.08.

Current gas prices are among the lowest Duncan has seen this year. On May 28, The Banner recorded a gas price high of $3.799, which was a 20 cent increase from 18 days earlier.

According to a release from AAA, “With just 14 days remaining in 2013, the national average retail price of gasoline continues to fall, even as the daily difference in the year-over-year price is dwindling.

“West Texas Intermediate (WTI) crude oil begins a ninth consecutive week below $100 per barrel. WTI prices did make a run back toward the triple-digit threshold early last week; however they lost some momentum and finished down slightly with limited factors seen supporting higher prices.”

According to the release, national gas prices are at a low for the year, after 15 consecutive days of increases between Nov. 12 through Nov. 27. In 2012, national gas prices reached their lowest average at $3.22 on Dec. 20. The lowest price in the second half of 2011, occurred Dec. 21 with an average low of $3.21.

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