Rocky Mountain Drivers Enjoy the Cheapest Gasoline Prices Today

On average, drivers in Utah and the region of the Rocky Mountains are enjoying some of the country’s lowest gasoline prices today, with 60 percent of the stations having rates below $3 a gallon.

Two Salt Lake Valley stations were even selling gasoline for only $2.60 per gallon.

In fact, Wyoming’s $2.918 per gallon current gasoline price average makes it the only state with a lower price compared to Utah’s $2.921 per gallon average. The unrelenting supply and demand cycle is the reason for the present levels of the country’s gasoline prices.

Rolayne Fairclough, AAA Utah’s spokeswoman, said that drivers saw the highest prices at the pump last summer and the lowest since the recent winter season started. The traditional cycle of dropping demand from summer to winter is a major factor for that movement in prices.

The region’s cheaper gasoline prices can also be attributed to sufficient gasoline supplies, the availability of lower-priced crude from Canada and the exceptional operations of refineries, according to petroleum analysts.

60 percent of the Rocky Mountain region’s stations have gasoline prices lower than $3 a gallon, while only around 25 percent in the remaining parts of the country are seeing that low of a price at the pump.

Other traders are reporting that the region is in a good situation since they are protected from the expensive crude price per barrel of West Texas Intermediate oil and can take advantage of the cheaper Canadian crude.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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