Gas prices in Nevada inch upward again | NevadaAppeal.com

Gas prices in Nevada inch upward again

GasBuddy.com
Gas prices in Churchill County are following the national trend by increasing more than 8 cents during the past week.
STEVE RANSON / LVN |

Average retail gasoline prices in Nevada have risen 8.2 cents per gallon in the past week, averaging $3.29 a gallon as of Monday, according to GasBuddy’s daily survey of 1,130 gas outlets in Nevada.

This compares with the national average that has increased 5.0 cents per gallon in the last week to $2.71 a gallon said gasoline price website GasBuddy.com.

Including the change in gas prices in Nevada during the past week, prices on Monday were 49.2 cents per gallon lower than the same day one year ago and are 50.4 cents per gallon higher than a month ago. The national average has increased 26.9 cents per gallon during the last month and stands 94.0 cents per gallon lower than this day one year ago.

“The rise we’ve seen in the national average over the month is showing signs of fading,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “Crude oil prices have fallen from their 2015 highs and currently stand some $2/bbl lower at $59 a barrel. While higher demand is expected for this Memorial Day weekend, crude oil inventories remain plentiful and stand some 86 million barrels higher than a year ago. That reminder could inspire some selling in crude oil, as could bearish comments recently made by OPEC, or data showing that the 24-week decline in oil rigs is greatly slowing down.”

Monthly comparisons show all 50 states seeing higher prices than they stood four weeks ago, with the largest jumps taking place in Ohio, Michigan and California, where prices moved up by at least ten cents a gallon.

Meanwhile, all 50 states still stand lower today than a year ago, with the biggest drops in Michigan, Indiana and Kentucky, where prices stand over $1.12/gallon lower. Meanwhile, the smallest drops versus a year ago can be found in California, Nevada and Utah, where prices are 33, 49 and 62 cents lower, respectively, than last year.

About GasBuddy.com

GasBuddy is the premiere source for real-time local gas prices. Founded in 2000, GasBuddy.com developed as an initiative to provide consumers access to local, current gas prices. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump.