Wyoming Gas Down Again

The agony and the ecstasy of lower gas prices are evident again this week. Gasoline prices in Wyoming have fallen 2.2 cents per gallon in the past week, averaging $1.71 a gallon across our state. Nationally gas has fallen 5.2 cents per gallon in the last week to $1.74 a gallon according to GasBuddy.com.

Wyoming prices are almost 25 cents lower per gallon than one year ago and are 20.2 cents per gallon lower than a month ago. Of course it's great for those gassing up, but its tough on oil and gas businesses and those who work there and the support businesses.

Gasoline prices are dropping coast to coast as refiners pump out winter-spec gasoline that will soon need replacing by summer. Cheap crude has stocks high and prices low and many refineries under pressure to purge at bargain basement prices and rig counts are dropping.

One thing to factor in is that when the switch is made to summer blends, the prices will eventually lift. Bad for summer travelers, maybe good for gas and oil workers.