Newspaper article THE JOURNAL RECORD

Gas Prices Fall for 17th Straight Week

Newspaper article THE JOURNAL RECORD

Gas Prices Fall for 17th Straight Week

Article excerpt

OKLAHOMA CITY - Gasoline prices have fallen for 17 consecutive weeks in Oklahoma, dropping to an average of $1.41 a gallon on Tuesday, according to FuelGaugeReport.AAA.com.

The state's average gasoline price on Tuesday was down 9 cents from a week earlier. Gas prices have been falling because of weak demand and crude oil inventories that are at their highest level for this time of year in nearly eight decades.

"To be honest, we're just not sure if gas prices have hit rock- bottom yet," said Chuck Mai, spokesman for AAA Oklahoma. "Gasoline demand typically begins to increase in February, reaching its peak in August. Plus, this month also marks the beginning of the spring refinery maintenance season. The combination of increased demand and reduced supply often leads to upward swings in the price at the pump. …

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