Las Vegas gas prices drop 3 cents to $2.66 - FOX5 Vegas - KVVU

Las Vegas gas prices drop 3 cents to $2.66

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

Las Vegas saw a drop in the price of gas Monday.

According to AAA's Gas Prices website, the average cost of a gallon of regular unleaded dropped one cent to $2.66. The price Monday was still three cents higher than last month's price of $2.63 a gallon.

On May 8, 2016, the average price of the base grade gasoline was $2.42 a gallon.

Nationally, the average price of gas dropped four cents from the week before to $2.34 a gallon on Monday. The average price of gas a year ago was $2.21 a gallon.

"Gasoline prices in much of the country are eroding at a time of year when such a downward fall is anything but par for the course," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. "Prices now lay on the fringe of falling under the same point as last year as this year's usual spring rally has been the weakest in recent memory. Factors playing a role: weak demand and strong production, which continue to weigh on OPEC's output cut last November designed to cause prices to rise. The recent drop in crude oil is posing a much more serious threat and OPEC must soon decide how much market share it will sacrifice to keep oil prices higher- clearly the last cut just isn't enough. But while oil remains in focus, U.S. refiners have concluded maintenance season and may soon sputter due to inventories that are bulging with weak gasoline demand the story thus far in 2017, leaving gasoline prices in a weak state- perfect for motorists planning summer road trips."

You can view the latest price of gas at this link.

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