Jun 14, 2023

Gas prices well below last year's records

Posted Jun 14, 2023 3:47 PM
CHS Refinery-McPherson-Nick Gosnell
CHS Refinery-McPherson-Nick Gosnell

NICK GOSNELL
Hutch Post

HUTCHINSON, Kan. — Shawn Steward with AAA Kansas reminds us that going to the pump was particularly painful in June 2022.

"This week marks the one year anniversary of the most expensive average gas prices ever," Steward said. "Those took place last June at this time. On June 14, 2022, we saw the national record of $5.01 per gallon. The following day on June 15, Kansas reached its record of $4.67 a gallon."

That's not where we are this year. Average gas prices are nowhere close to $4 a gallon.

Reno $3.11

McPherson $3.13

Harvey $3.17

Sedgwick $3.24

Kingman $3.20

Pratt $3.31

Stafford $3.29

Rice $3.23

"Today's Kansas average is $3.24 a gallon," Steward said. "That compares, again, to our record of $4.67 a year ago tomorrow and nationally, we're at $3.59 a gallon. That's exactly one year after a record of $5.01 per gallon. Much lower prices at the pump. Very easy to budget for gas this summer for your summer road trips as compared to last year."

The fundamentals behind the price are in favor of the motorist a little more this year.

"We're seeing strong demand this summer," Steward said. "A lot of people out on the roads and starting off their summer vacations. In recent weeks, we've seen a very robust demand for gas, but the low crude oil prices have sort of balanced that out."

Crude oil was still below $70 a barrel as of Wednesday morning. Last year at this time, it ran around $120 per barrel.

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