Cold weather keeping gas prices down, but maybe not for long

Cold temperatures are keeping gasoline prices low this week. National average gas prices reached their lowest level since 2021, according to GasBuddy. The company’s analyst isn’t ruling out a $2.99 national average price for a gallon of gas in the coming weeks. Gasoline inventories are also sitting 8% above the levels they were a year ago—another factor keeping pump prices reasonably low.

Many metro areas in the Midwest and South are already enjoying gas prices below $3 per gallon, according to AAA data. West Coast drivers, however, could see gas prices tick upward sooner rather than later given that refineries have begun clearing out winter fuel blends to make way for more environmentally friendly and costlier warm-weather blends.

Stacker compiled statistics on gas prices in Las Vegas (NV only) metro area using data from AAA. Gas prices are current as of January 22.

Las Vegas by the numbers

- Gas current price: $3.77

—- Nevada average: $3.78

- Week change: -$0.03 (-0.8%)

- Year change: -$0.15 (-3.8%)

- Historical expensive gas price: $5.61 (6/16/22)

- Diesel current price: $4.09

- Week change: -$0.03 (-0.7%)

- Year change: -$0.73 (-15.1%)

- Historical expensive diesel price: $6.03 (6/18/22)

Metros with the most expensive gas

#1. Lihue (Kauai), HI: $5.18

#2. Hilo, HI: $4.79

#3. San Luis Obispo-Atascadero-Paso Robles, CA: $4.78

Metros with the least expensive gas

#1. Casper, WY: $2.13

#2. Lawton, OK: $2.39

#3. Greeley, CO: $2.45

This story features writing by Dom DiFurio and is part of a series utilizing data automation across 371 metros.