Have Gas Prices Hit a Wall?

Wyoming unleaded regular gas prices have risen 1.5 cents per gallon in the past week, averaging $2.09/g today, according to GasBuddy’s daily survey of 494 stations. Gas prices in Wyoming are 10.9 cents per gallon higher than a month ago and stand 62.1 cents per gallon lower than a year ago.

Prices in Riverton range between $1.94.9 a gallon and $1.99.9 per gallon. In Lander the prices have now surpassed $2 per gallon.

The national average price of gasoline has fallen 1.2 cents per gallon in the last week, averaging $2.17/g today.

One year ago, Wyoming’s average price was $2.71/g.

Neighboring areas and their current gas prices:

Fort Collins- $2.43/g, down 0.8 cents per gallon from last week’s $2.44/g.

Ogden- $2.27/g, up 1.5 cents per gallon from last week’s $2.25/g.

Billings- $2.18/g, up 1.7 cents per gallon from last week’s $2.17/g.

“With July 4 behind us, we’re now half way through the summer driving season, and the pace of gas price increases has finally hit a wall. As of Sunday evening, it appears possible that we may break the nine straight weeks of rising prices thanks to a drop in demand fueled by COVID-19 cases surging in some states,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “So far this summer, both holidays have seen the lowest prices since 2004, and its possible that if things don’t improve much by Labor Day we could see the rare trifecta of every summer holiday setting multi-year lows. For now, I believe we may see increases stall and some minor increases or decreases until we see a solid change in the coronavirus situation. For now, some states will see slight increases, some may see slight decreases, but gas prices are essentially stuck in limbo.”