Wyoming Gas Prices Falling
Average retail gasoline prices in Wyoming have fallen 1.3 cents per gallon in the past week, averaging $2.29/g yesterday, according to GasBuddy's daily survey of 494 gas outlets in Wyoming. This compares with the national average that has fallen 2.4 cents per gallon in the last week to $2.31/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Wyoming during the past week, prices yesterday were 46.7 cents per gallon lower than the same day one year ago and are 4.6 cents per gallon higher than a month ago. The national average has decreased 1.3 cents per gallon during the last month and stands 47.2 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on June 27 in Wyoming have ranged widely over the last five years:
$2.76/g in 2015
$3.55/g in 2014
$3.56/g in 2013
$3.50/g in 2012
$3.54/g in 2011
Areas nearby Wyoming and their current gas price climate:
Fort Collins- $2.26/g, up 0.6 cents per gallon from last week's $2.25/g.
Ogden- $2.36/g, down 1.6 cents per gallon from last week's $2.37/g.
Billings- $2.28/g, down 2.6 cents per gallon from last week's $2.31/g.
"The national average price of gasoline has now slipped nearly 10 cents lower than the 2016 peak, to-date, of $2.39 per gallon, bringing greater likelihood that prices for the Fourth of July weekend will be even lower than where they now stand," said Gregg Laskoski, senior petroleum analyst for GasBuddy.
"And if there was any doubt about the direction of retail gasoline, 'Brexit's impact --strengthening the U.S. dollar; weakening European currencies and weakening global crude oil prices-- is expected to add even more downward pressure to summer gas prices despite record-setting demand (9.81 million barrels per day for the week ending June 17)."
For LIVE fuel price averages, click HERE.
So at a time of year when motorists expect gas prices to rise, prices have actually been falling, just in time for the Fourth of July when many will be hitting the road. GasBuddy predicts this Independence Day to be the cheapest since 2005.
This year the United States experienced the lowest June gasoline prices in over 10 years. GasBuddy predicts the national average will be $2.27 per gallon on the Fourth, down considerably compared to just two years ago when the national average hit $3.66 per gallon for the holiday.
The decline as we approach July 4 is not a rarity. Over the past 10 years, the average price of gas through the Fourth of July holiday has declined more often than not.
“The U.S. average price of gas was lower on July 5th than it was the previous week seven out of 10 occasions dating back to 2006,” said Gregg Laskoski, senior petroleum analyst for GasBuddy. “This defies the general consensus on Main Street that prices rise ahead of a major travel holiday.”
The good news doesn’t end here. Looking forward to the rest of 2016, GasBuddy projects the return of a sub-$2 per gallon national average as soon as early November. Seasonal trends, such as lower gasoline demand and cheaper winter gasoline, return to the picture. Gas prices in the South are most likely to spend the most time under $2 this autumn, while the West Coast may be left behind. By Thanksgiving, GasBuddy sees the national average back at $1.99 or less. It should be noted, however, that any unforeseeable major impact to the supply chain, such as hurricanes, could disrupt gasoline prices and lead to a departure from this forecast.
Though prices may be lower, there are still plenty of opportunities to save. In a recent GasBuddy study, it found motorists in many major cities could be overpaying on gas by upwards of $1 per gallon.