With only six months left to go before the election in November, President Joe Biden’s in a tough spot as his strategy to lower gas prices.
The Administration has taken a soft approach in sanctioning oil from Iran, as well as other countries, to help tamp down fuel costs. But it’s a risky gambit as Iran’s attack on Israel has increased pressure on the President to crack down even more on crude oil exports from the Islamic Republic.
So far, gas prices in Wyoming haven’t been affected by the turmoil in the Middle East as average gasoline prices in Wyoming have fallen 2.8 cents per gallon in the last week, averaging $3.27/g today, according to GasBuddy’s survey of 494 stations in Wyoming. Prices in Wyoming are unchanged versus a month ago and stand 9.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 2.9 cents in the last week and stands at $3.98 per gallon.
According to GasBuddy price reports, the cheapest station in Wyoming was priced at $2.82/g yesterday while the most expensive was $3.96/g, a difference of $1.14/g. The lowest price in the state yesterday was $2.82/g while the highest was $3.96/g, a difference of $1.14/g.
The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.63/g today. The national average is up 8.4 cents per gallon from a month ago and stands 4.3 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Neighboring areas and their current gas prices:
Fort Collins- $3.09/g, down 3.0 cents per gallon from last week’s $3.12/g.
Ogden- $3.88/g, unchanged from last week’s $3.88/g.
Billings- $3.53/g, down 4.3 cents per gallon from last week’s $3.57/g.
“With more confidence every day, it appears the spring top is in: average gas prices have started to cool off in many areas. For now, few Americans need to worry that gas prices are going to skyrocket; the risk appears to be behind us, with relief coming in the weeks ahead,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the latter half of the summer could potentially see hurricane-related issues, I do sense we’ve hit the top for now, and Americans should be optimistic that this summer will be very similar to last year, in line with our early 2024 expectations and likely not featuring record gasoline prices. I’m quite excited the seasonal rise in gas prices appears to be over.”
Gas prices are already up 18% this year, but Congress is putting pressure on President Biden, urging tougher sanctions to not only Iran, but Russia and Venezuela as well.
