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National, Campbell County average gas prices largely unchanged after holiday week

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GILLETTE, Wyo. — Both the nation’s and Campbell County’s average price for a gallon of regular gasoline remained virtually unchanged from a week ago despite Fourth of July holiday travel.

Nationally, the average price was $3.46 per gallon, according to GasBuddy data compiled from more than 12 million individual price reports. The national average is up 3.7 cents from a month ago but down 5.5 cents from a year ago.

The national average price of diesel has risen 3.6 cents in the last week to stand at $3.81 per gallon — the same level as one year ago.

“The national average price of gasoline has nudged higher over the last week as oil prices have continued to push toward multi-month highs. While it looks like this recent rise could be restrained for now, Hurricane Beryl is a stark reminder that hurricane season could play a role in prices in the weeks ahead,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, we’ll likely continue to see some fluctuations in either direction with the national average moving up, but as we approach August and the peak of hurricane season, there remains a risk that the national average could surge temporarily if we see a major storm in the wrong place.”

On Monday, AAA reported the national average price for a gallon of regular gasoline at $3.50 per gallon, up 1 cent from a week ago. Wyoming’s average is $3.27, up 1 cent from last week. Campbell County’s average of $3.22, down three-tenths of a cent from last week, is the state’s fourth cheapest price for gas. Natrona County’s average of $2.92 continued to be Wyoming’s cheapest, according to AAA. That’s followed by $3 in Laramie County and $3.08 in Goshen County.

(AAA graphic)

The cheapest fuel in Campbell County on Monday was $3.17 at M.G. Oil Co., 502 El Camino Road, followed by $3.19 at nearly all other gas stations in town, according to GasBuddy reports.

Also included in GasBuddy’s report Monday:

OIL PRICES
In early Monday trade, oil prices were under pressure as Hurricane Beryl shut down some significant export facilities in southern Texas, weighing on crude oil prices. WTI crude oil was down 67 cents to $82.49 per barrel, just slightly ahead of last Monday’s $82.11 per barrel start. Brent crude oil was also trading lower, down 53 cents to $86.01 per barrel, also slightly higher than last Monday’s $85.66 per barrel start. Oil’s rally has slowed in recent weeks, stalling after reaching the mid-$80 per barrel range. Still, with global inventories continuing to tighten, Monday’s selling pressure could be temporary, setting the pace for a potential run closer to $90 per barrel before the summer driving season is over.

OIL AND REFINED PRODUCTS
Last week’s report from the EIA showed a monster 12.2 million barrel decline in U.S. oil inventories, while the SPR tacked on another 400,000 barrels. Domestic crude production remained unchanged at 13.2 million barrels per day. Gasoline inventories fell 2.2 million barrels, while implied gasoline demand surged ahead of July 4 to 9.42 million barrels, according to the EIA. GasBuddy’s transactional data showed a large disconnect between retail volumes and the EIA’s figure, highlighting stations refueling ahead of a major summer holiday, not necessarily a surge in retail demand just yet. Distillate inventories fell 1.5 million barrels, while refinery utilization rose 1.3 percentage points to 93.5% of capacity.

FUEL DEMAND
According to GasBuddy demand data driven by its Pay with GasBuddy™ fuel card, U.S. retail gasoline demand saw a drop of 2.7% for the week ending July 6 (Sun-Sat). Broken down by PADD region, demand fell 5.0% in PADD 1, fell 2.3% in PADD 2, rose 0.8% in PADD 3, fell 2.2% in PADD 4, and fell 2.4% in PADD 5. GasBuddy models U.S. gasoline demand at 8.671 million barrels per day.

GAS PRICE TRENDS
The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, up 10 cents from last week, followed by $3.49, $3.29, $3.59, and $3.19 rounding out the top five most common prices.

The median U.S. gas price is $3.39 per gallon, up 4 cents from last week and about 7 cents lower than the national average.

The top 10% of stations in the country average $4.50 per gallon, while the bottom 10% average $2.92 per gallon.

The states with the lowest average prices: Mississippi ($2.90), Louisiana ($2.94), Oklahoma ($3.00).

The states with the highest average prices: California ($4.71), Hawaii ($4.66), and Washington ($4.20).

DIESEL PRICE TRENDS
The most common U.S. diesel price stood at $3.99 per gallon, up 30 cents from last week, followed by $3.69, $3.79, $3.59, and $3.89 rounding out the top five most common prices.

The median U.S. diesel price is $3.69 per gallon, up 1 cent from last week and about 12 cents lower than the national average for diesel.

Diesel prices at the top 10% of stations in the country average $4.74 per gallon, while the bottom 10% average $3.26 per gallon.

The states with the lowest average diesel prices: Oklahoma ($3.40), Texas ($3.41), and South Dakota ($3.45).

The states with the highest average diesel prices: Hawaii ($5.47), California ($5.07), and Washington ($4.45). GasBuddy

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