Central Omaha, Monday
Gretna I-80 interchange, Monday
Gas prices are dropping sharply in Omaha as prices go on a wild ride in Nebraska, varying by as much as $1 a gallon. Gas sold for around $2.75 a gallon in Omaha on Monday -- the low end of the range.
At the high end, regular gas cost $3.79 a gallon at a Sinclair station at 1538 Court St. in Beatrice, according to the website, gasbuddy.com. Prices in North Platte were around $3.17 a gallon, near the mid-point of the state range and about 40 cents a gallon higher than Omaha.
A check of gasbuddy Monday showed 15 outlets in Omaha selling regular gas for $2.77 a gallon or less. The Costco at 12300 W. Dodge Rd. sold gas for $2.72.
Those prices stand in stark contrast to the price in May, when the average in Omaha topped $4 a gallon.
Nebraska’s current gas prices tend to increase from eastern to western Nebraska, according to both gasbuddy and the AAA auto club.
Four outlets in Grand Island sold regular gas Monday for $2.83 a gallon, gasbuddy reported. The average price in Grand Island was $3.02 a gallon, AAA reported.
Two places in Kearney sold gas for $2.99 a gallon, gasbuddy reported, with the average at $3.16, according to AAA.
The average price in North Platte was $3.25 a gallon, AAA reported, with five places near I-80 at $3.15 or below.
Among the states’ priciest 15 retail sellers Monday, according to gasbuddy:
• Casey’s in McCook (704 West B) -- $3.46 a gallon.
• Amstar in Lexington (1110 N. Adams) -- $3.29.
• Conoco in Ogallala (I-80 Exit) -- $3.24.
Gasoline prices have fallen sharply since nearing $4 a gallon in early summer and are now at their lowest level nationally since February 2011, AAA reported. The price plunge gives rise to the expectation that the nation’s average gas price will fall below $3 a gallon relatively soon, as some forecasters predicted a year ago.
Generally, demand is plummeting while supplies increase.
A study by Doug Short printed in a recent issue of Bloomberg View shows the average driver now travels about the same number of miles as 18 years ago, demonstrating the lessening demand.
On the other hand, the development of the Bakkan oil field in North Dakota is adding to relatively plentiful supplies of the raw ingredient - oil.
The price of West Texas Intermediate crude oil fell below $100 a barrel on Oct. 21.
Missouri has a state average price of $2.82 -- the lowest in the 48 contiguous states, according to AAA. The highest state average prices are in California ($3.62), New York ($3.53) and Vermont ($3.42.)