2-cent drop stems gas price rise in Las Vegas - FOX5 Vegas - KVVU

2-cent drop stems gas price rise in Las Vegas

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(FOX5 FILE) (FOX5 FILE)
LAS VEGAS (FOX5) -

Gas prices in Las Vegas have risen along with the scorching temperatures outside. There seems, though, to be some relief on the way, according to AAA.

The auto club's Fuel Gauge Report showed Monday a 2-cent drop from the price last week. Regular unleaded was priced at an average of $3.84 a gallon.

The price on July 14, 2013, was reported at $3.63 a gallon. A month ago, valley drivers paid $3.76 a gallon.

Nationally, the average price of regular unleaded Monday was reported at $3.61 a gallon, which was a 4-cent drop from the previous week.

"The last two weeks have seen some large drops in oil prices and gasoline spot prices- a very exciting thing to see in the middle of the summer driving season," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Motorists have some nice relief coming at the pump to look forward to in the next week to two as these drops make it to retail outlets. Over the next week, the national average will fall back under $3.50 a gallon, something we haven't seen since April, and will also drop under last year's average in the next few days. There is also the possibility for further declines if we don't see a hurricane or geopolitical tensions ruin things. I'd caution motorists as we expect these large decreases to only buy the amount of gasoline they immediately need as prices drop, and to shop around as price gaps between stations widen because of the quick decrease in wholesale gas price. Some stations will be buying the cheaper gasoline and passing on savings faster, leading to a wide array of gas prices."

You can view the latest average price of gas at fuelgaugereport.aaa.com.

Copyright 2014 KVVU (KVVU Broadcasting Corporation). All rights reserved.

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