The Woodward News

Local News

December 5, 2012

Record year for gas prices

Gary Engel Woodward News

Woodward, Okla. — Gas prices set an unwanted record this year.

"As a nation, we've never paid more at the pump than we did this year," said Patrick DeHaan, senior petroleum analyst at GasBuddy.com.

He said the national average, about $3.63 per gallon through November 2012, all but guarantees the year will end at a new record high.

DeHaan said something would have to happen to drop the price of regular unleaded to $2.35 per gallon to drop the average below the $3.63 mark for the remainder of 2012.

Chuck Mai of AAA Oklahoma said the price in the state stayed around new-record levels for the year, as well, but he still believes the price will move below its current $3.19 level soon and drop under $3 by the end of the year.

Oklahoma prices, for January through November, averaged $3.445 per gallon, Mai said. For 2011 regular unleaded averaged $3.280 for the year.

Gasbuddy.com on Monday showed the $3.19 level staying stable in Woodward.

Enid prices ran the gamut from $3.17 to $3.24, while the price was $3.25 at one Guymon station and $3.29 at two others.

Oklahoma City ranged between $2.95 and $2.96 per gallon.

DeHaan said major flood damage was caused in the Northeast from Hurricane Sandy, and California experienced supply challenges nearly for the entire summer.

Those problems didn't affect the price in Oklahoma, but Mai said he believed the tension between Israle and Hamas did play a part in the elevated gas prices for the state.

Officials at AAA and Gasbuddy.com said a key way out of the price problem would be for the U.S. to help increase refining capacity. Experts say that would occur through building more refineries.

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