Newspaper article THE JOURNAL RECORD

Gasoline Prices Expected to Remain Low

Newspaper article THE JOURNAL RECORD

Gasoline Prices Expected to Remain Low

Article excerpt

OKLAHOMA CITY - Oklahoma's average price for regular gasoline on Monday was $1.97, down from $2.00 a week earlier and the state's lowest prices since May 12, according to AAA Oklahoma.

Average gasoline prices nationwide have fallen for 35 out of 36 days to $2.21 per gallon on Monday, 55 cents less than the average price on July 18, 2015, according to GasPrices.AAA.com.

"The usual suspects are still keeping a lid on gas prices: abundant fuel supplies and crude oil costs hanging around in the $45 to $50 range," said Chuck Mai, spokesman for AAA Oklahoma.

AAA expects gasoline prices likely will remain relatively low compared to recent years for the remainder of the summer. U.S. crude oil supplies are about 13 percent higher than a year ago, while gasoline stocks have increased to 240 million barrels as refineries produce significant quantities of fuel. …

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