Jan 21, 2020

Gas prices trickling down as stability is shown in supply and demand

Posted Jan 21, 2020 3:27 PM

By NICK GOSNELL
Hutch Post

HUTCHINSON, Kan. — Gas prices are doing what they typically do in January in Kansas. They're going down.

"This week, we're at $2.27 on average per gallon," Shawn Steward with AAA Kansas said. "That's down two cents in the past week. We're 27 cents less than the national average, which is $2.54 today. That puts us at sixth cheapest in the nation."

You can see both sides of that average nearby.

"Wichita actually has the 37th cheapest metro area in the country today at $2.22 a gallon," Steward said. "Reno County's average is $2.34. In the Hutchinson area, we're looking at a $2.31 to $2.34 per gallon range."

The fundamentals underlying those prices are strong.

"Stable gas prices are in play right now," Steward said. "We have a healthy stock of gasoline on hand. It's low demand season, and the geopolitical tensions that we were concerned about a couple of weeks ago seem to have eased a bit for now."

As long as crude oil supply remains strong, gas prices should continue to trickle down between now and the beginning of the spring driving season.