This story features writing by Dom DiFurio and is part of a series by Stacker using data automation across 50 states. Additional reporting by This Is Reno.
The national average cost of a gallon of gasoline is a few cents below last week’s levels and roughly in line with the trend from this time last year, according to AAA data.
The falling price of oil since Memorial Day weekend and lower demand are two factors keeping gas prices lower heading into this weekend.
“Gas prices will likely keep up this slow sag now that we are past the Memorial Day travel weekend and more locations, east of the Rockies, will be selling gas below $3 a gallon,” AAA spokesperson Andrew Gross said in a statement Thursday.
Analysts are now looking to a predicted busier hurricane season in the Atlantic compared to previous years. Barring any storm disruptions hitting refinery capacity or other factors that could push prices up, the current trend of falling oil costs and lower demand could keep prices lower at the pump.
Meanwhile, Nevada’s Democratic Sens. Catherine Cortez Masto and Jacky Rosen last week signed on to a letter urging the Department of Justice to investigate, prevent and prosecute major oil companies for price gouging.
The letter follows a Federal Trade Commission investigation that both senators and other colleagues called for to examine a “Big Oil” merger, and which uncovered price gouging by American oil executives and Organization of Petroleum Exporting Countries executives that resulted in higher energy costs for American families and businesses.
In the letter, senators said the alleged collusion may have cost the average American household up to $500 per car in increased annual fuel costs while western oil companies collectively earned more than $300 billion in profits over the last two years — an increase experts say cannot be explained by inflation or increased production costs.
Stacker compiled statistics on gas prices in Nevada. Gas prices are as of May 31.
Nevada by the numbers
– Gas current price: $4.26
– Week change: -$0.05 (-1.2%)
– Year change: -$0.03 (-0.7%)
– Historical expensive gas price: $5.67 (6/16/22)
– Diesel current price: $3.94
– Week change: -$0.01 (-0.3%)
– Year change: -$0.46 (-10.5%)
– Historical expensive diesel price: $6.04 (6/18/22)
States with the most expensive gas
#1. California: $5.08
#2. Hawaii: $4.78
#3. Washington: $4.53
States with the least expensive gas
#1. Mississippi: $3.03
#2. Arkansas: $3.06
#3. Oklahoma: $3.07
