The Norman Transcript

Editorials

June 20, 2014

Feeling pain at the pump

NORMAN — Just in time for the first official day of summer, gasoline prices are beginning to inch upward. AAA this week said the Iraqi civil war is fueling higher pump prices in the U.S. The average Oklahoma price for self-serve gasoline is $3.484, the highest since September 2013.

Oklahoma prices rose nearly three cents per gallon overnight.

Tulsa prices went up a dime a gallon overnight. AAA said the national average gas price is $3.664 per gallon, about two cents more than a week ago and a nickel per gallon more than on the same date last year.

After falling for nine straight days, the national average has increased for six consecutive days as violence in Iraq has intensified.

AAA has predicted that Oklahoma drivers will pay relatively higher prices this summer, ranging from $3.35 to $3.55 per gallon in the state. It could go higher if unrest in Iraq escalates or disrupts oil production in the region.

Gas prices often decline in June, with the national average falling the previous three years at an average of about 20 cents per gallon.

In summer 2013, the national average turned lower as domestic production and distribution issues eased, although market watchers were keeping a close eye on the Middle East.

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