Las Vegas gas prices surge 4 cents to $2.58 a gallon - FOX5 Vegas - KVVU

Las Vegas gas prices surge 4 cents to $2.58 a gallon

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A driver fills up their tank at a Las Vegas-area gas station. (File/FOX5) A driver fills up their tank at a Las Vegas-area gas station. (File/FOX5)
LAS VEGAS (FOX5) -

The gas pump is not deceiving you during your weekly fill-up.

AAA's Gas Prices website reported Monday that the average price of regular unleaded in the Las Vegas Valley went up four cents from a week ago to $2.58 a gallon.

A month ago, gas prices in Las Vegas averaged $2.44 a gallon. On March 13, 2016, Las Vegas drivers were paying an average of $2.17 a gallon, which is 41 cents cheaper than the current price.

Nevada remained among the states with the highest average price of gas in the country. Nationally, though, the average price of the base-grade gasoline was at $2.29 a gallon, which is a two-cent drop from the previous week.

"A sudden plunge in the price of oil is likely to weigh on gas prices, at least temporarily," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com.

DeHaan continued, "With little warning or expectation, crude oil last week broke out of the rut it had well established, with crude prices falling out of a 3-month range of $51-$54 per barrel to $49. Fundamentals of oil have weakened, and with last week's large 8.2 million barrel rise in crude oil inventories, the market has turned decidedly bearish for now. Naturally, when oil prices take a beating such as they did last week, one might expect gasoline prices to move in lockstep, but due the complex relationship of oil and gasoline prices and the middleman- U.S. refineries- motorists may not see as large a decline at the pump as they may hope for- but certainly stay tuned. I remain optimistic that the annual spring rally at the pump could be less severe than expected, but remain cautious as it remains difficult to know where the new path will lead oil prices in the week ahead."

You can get the latest price of gas anytime at gasprices.aaa.com.

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