Fuel prices decline in Nevada - FOX5 Vegas - KVVU

Fuel prices decline in Nevada

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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)

Motorists in Las Vegas will save some money at the gas pump. According to Gas Buddy, gasoline prices have dropped an average of about two cents in the past week.

Including the change in price Sunday, the average price of gasoline was 21 cents per gallon higher than the same time last year and it was about two cents lower than the same time last month.

As of Monday morning, the average cost of fuel in Las Vegas was $2.64 per gallon. The price in the state of Nevada averaged $2.74 cents per gallon.

Consumers in Las Vegas saw a larger drop in the cost of gas compared to the rest of the nation. Nationally, the average cost of gasoline fell by less than a penny. Compared to the same time last year, the national cost of gas dropped by about eight cents in the last month and is 10 cents higher than last year.

Patrick DeHaan, senior petroleum analyst for GasBuddy.com said, “The national average gas price has again declined in the last week, but the road ahead may be a bit bumpier.” Dehaan said factors such as oil and gas inventories plus a possible extension of OPEC's crude oil production cuts could signal where prices will go for the start of the summer driving season. 

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