Gas prices hit 27-year low; dip below $2 a gallon in Reno
MINDEN, Nev. — It doesn’t require much in the way of comparison shopping to see that gas prices in Western Nevada have dropped significantly over the past two months.
Where average gas prices in Carson Valley were around $3.30 a gallon for mid-grade around the end of January, they’re down below $2.80 a gallon as of Sunday, April 5.
Carson City prices, which tend to be lower than those in Carson Valley dropped from $3 a gallon on Feb. 15 to $2.60 on March 21, or 40 cents a gallon.
According to the Automobile Association of America, the average price for regular unleaded gas in Douglas County on Monday, April 6, was $2.56 a gallon. The average gas price per gallon in Carson City was $2.24. Both jurisdictions charge the same amount in gas taxes.
Those compared with the state average of $2.55.
Meanwhile, as of Wednesday morning, April 8, AAA reports the following averages, showing a deeper dip:
- Nevada average: $2.53 per gallon of regular unleaded
- Nevada average: $2.82 per gallon of diesel
- National average: $1.91 per gallon of regular unleaded
Meanwhile, according to Gas Buddy, prices have dipped below $2 a gallon across the greater Reno-Sparks region.
According to an April 6 update from AAA, the nation’s top 10 least expensive markets are: Wisconsin ($1.43), Oklahoma ($1.47), Ohio ($1.55), Kentucky ($1.58), Michigan ($1.61), Indiana ($1.62), Mississippi ($1.63), Arkansas ($1.64), Texas ($1.65) and Iowa ($1.66).
AAA said that gas prices are dropping as demand has dropped to its lowest level since 1993. They are anticipating prices will continue to drop as people are urged to stay home until the end of April.
“This week, market analysts are watching crude oil prices, which started to increase at the end of last week,” said AAA Spokeswoman Jeanette Casselano. “However, given the low demand readings, increases in crude aren’t likely to hae an impact on gas prices in the near-term.”
U.S. refinery use is down to 82 percent and is expected to drop lower in the near future. AAA said refineries are reducing production in hopes of balancing the supply and demand for gasoline.
NNBW Editor Kevin MacMillan contributed to this report.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.