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Tuesday, September 21, 2021

Gas Prices Slowly, Steadily Declining for Most Kansas Motorists

Lower gasoline demand pushes average Kansas gas price down 2 cents to $2.65.

TOPEKA, Kan. – Aug. 20, 2018 – As summer begins to wind down, motorists in many places across Kansas and the nation are seeing gas prices gradually drop. Today’s Kansas average is $2.65 for a gallon of regular gasoline, down two cents in the past week, and registering as the 11th cheapest gas in America.

“Compared to July, consumer demand for gasoline is waning, and prices are following suit,” said Shawn Steward, AAA Kansas spokesperson. “The Kansas and national averages are expected to keep moving lower, especially with the seasonal gasoline blend switch-over in September.”

In September, gas stations will start selling winter-blend gasoline. This blend, which is cheaper to produce, contains a fuel that evaporates at low temperatures for vehicle engines to operate properly, especially when the engine is cold.

Of the 10 Kansas cities regularly highlighted by AAA Kansas (see chart below), seven saw their gas prices fall, led by Wichita (-5 cents), Emporia (-4), Kansas City, Kan. (-3) and Topeka (-3). Hays’ and Pittsburg’s prices remained flat, while Garden City saw a 2-cent increase.

According to AAA Kansas, this week’s Kansas gas price extremes are:
HIGH: St. Francis (Cheyenne County) – $3.10
LOW: Newton (Harvey County) – $2.47

National Perspective
Gas prices across the country are getting less expensive, as well. Today’s national gas price average is $2.84, which is three cents less than at the beginning of the month. With the exception of a handful of states, the majority of motorists are seeing slow, but steady pump price drops during the last few weeks.

The national gas price average is saving motorists two-cents on the week and one-cent on the month, but motorists are paying 50-cents more than this time last year.

Today’s national gas price extremes:
High: Hawaii – $3.76
Low: South Carolina – $2.54

Gas Price Trends in Select Kansas Cities
Sources: http://aaa.opisnet.com/index.aspx and http://gasprices.aaa.com/

Today
Last Week
Last Month
Last
Year
Change Over Last Year
National
$2.84
$2.86
$2.85
$2.34
21%
Kansas
$2.65
$2.67
$2.66
$2.19
21%
Emporia
$2.61
$2.65
$2.62
$2.16
21%
Garden City
$2.63
$2.61
$2.60
$2.14
23%
Hays
$2.66
$2.66
$2.68
$2.22
20%
KCK
$2.70
$2.73
$2.71
$2.25
20%
Lawrence
$2.75
$2.77
$2.75
$2.28
21%
Manhattan
$2.66
$2.68
$2.70
$2.17
23%
Pittsburg
$2.67
$2.67
$2.69
$2.10
27%
Salina
$2.55
$2.54
$2.64
$2.14
19%
Topeka
$2.61
$2.64
$2.63
$2.20
19%
Wichita
$2.59
$2.64
$2.59
$2.10
23%
Bordering states and rank in lowest gas prices around the country
State
Current Avg.
Rank Today
Oklahoma
$2.59
5
Missouri
$2.59
6
Kansas
$2.65
11
Colorado
$2.80
25
Nebraska
$2.71
14
Oil market dynamics
At the close of Friday’s formal trading session on the NYMEX, WTI increased 45 cents to settle at $65.91. Oil prices ended the week with slight gains due to a softening dollar, after tumbling midweek following new data from the EIA that showed domestic crude oil inventories grew by 6.8 million bbl last week.
The unusually high growth in crude inventories caught market observers by surprise, raising concerns that summer demand may be waning. At 414.2 million bbl, crude inventories in the U.S. are about 52 million bbl lower than they were at this point last summer, which has contributed to higher gas prices this summer. Domestic crude production topping 10.9 million b/d and imports surging to just over 9 million b/d gave total crude inventories their boost last week. If these trends continue into this week, crude inventories may show more growth, which would likely push domestic crude prices lower.
In related news, according to Baker Hughes, Inc., the U.S. added no oil rigs last week, leaving the total unchanged at 869. Currently, there are 106 more active rigs this year than last year at this time.
Derek Nesterhttps://sunflowerstateradio.com
Derek Nester was born and raised in Blue Rapids and graduated from Valley Heights High School in 2000. He attended Cowley College in Arkansas City and Johnson County Community College in Overland Park studying Journalism & Media Communications. In 2002 Derek joined Taylor Communications, Inc. in Salina, Kansas working in digital media for 550 AM KFRM and 100.9 FM KCLY. Following that stop, he joined Dierking Communications, Inc. stations KNDY AM & FM as a board operator and fill-in sports play-by-play announcer. Starting in 2005 Derek joined the Kansas City Chiefs Radio Network as a Studio Coordinator at 101 The Fox in Kansas City, a role he would serve for 15 years culminating in the Super Bowl LIV Championship game broadcast. In 2021 he moved to Audacy, formerly known as Entercom Communications, Inc. and 106.5 The Wolf and 610 Sports Radio, the new flagship stations of the Kansas City Chiefs Radio Network, the largest radio network in the NFL. Through all of this, Derek continues to serve as the Digital Media Director for Sunflower State Radio, the digital and social media operations of Dierking Communications, Inc. and the 6 radio stations it owns and operates across Kansas.

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