Supply reduction blamed for high gas prices - FOX5 Vegas - KVVU

Supply reduction blamed for high gas prices

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LAS VEGAS (FOX5) -

Las Vegas gas prices are faring better than northern parts of the state, where costs are nearly 50 cents higher than in the valley.

Monday averages from AAA show the average price of gas in Las Vegas at $3.78, compared to $4.24 in Reno. Drivers paid $4.03 a gallon one week ago in Reno.

High prices in Northern Nevada and Southern California are blamed on a temporary reduction in supply. According to the Associated Press, prices in California are now the highest in the country, surpassing Hawaii.

The national average price of gas is $3.81 a gallon.

"Thanks largely due to the situation in California, the national average rose slightly in the last week," said Patrick DeHaan, senior petroleum analyst at GasBuddy.com. "The good news for Californians is to expect relief this week. Around the rest of the nation I expect a mixed bag, with prices not moving significantly in either direction from what I can see at this time," DeHaan said.

Gas prices in Las Vegas are up 23 cents from the same time one year ago. $4.29 is the record high for Las Vegas, which happened on June, 21 2008, according to AAA.

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