NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — The 2023 gas price trend continues to look similar to that of 2019, which in this week's case means continued declines.
"Nationally, and here in Kansas, pump prices have been maintaining a daily decline, despite the uncertainty rippling through the oil market in the days since Hamas terrorists attacked Israel," said Shawn Steward with AAA Kansas. "Oil prices have risen a few dollars per barrel this week."
Prices of Brent Crude as of Friday morning were just below $90 per barrel.
"The critical difference is that Russia is a significant oil producer," Steward said. "Israel and the Palestinian territories are not. Today's national average for a gallon of gas has fallen twelve cents in the past week to $3.62. Here in Kansas, we've dropped eight cents to $3.46."
Area county averages are on both sides of the Kansas average.
Reno: $3.45
McPherson: $3.37
Harvey: $3.40
Sedgwick: $3.48
Kingman: $3.45
Pratt: $3.55
Stafford: $3.49
Rice: $3.54
"If you look at the situation in the Middle East, as long as this war does not spread to include more countries in the region, we think the effect on the oil market will remain muted," Steward said.
The Energy Information Administration reported that total commercial crude stocks increased significantly by 10.1 million barrels to 424.2 million barrels last week.
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