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AAA: Nebraska Average Fuel Price Drops Below $3

gas-cardThe statewide average price for regular unleaded gasoline in Nebraska dropped below $3 a gallon this week, reports AAA.

Today’s  average for the 87-88 octane rated fuel  is $2.97 per gallon, down eight cents from a week  ago and 13 cents less than this same time last year.

According to AAA, the last time the Nebraska statewide average was below $3 was December 2010.

Out of the 176 Nebraska communities surveyed today, 105 reported gasoline averages of $2.99 or less.

The national average, currently at $2.86, has been below $3 since November 1.  AAA’s Fuel Gauge site shows that motorists in 37 states are paying fuel price averages below that level.

The price at the pump is closely tied to wholesale crude oil costs, says AAA.  During the past 52-weeks, crude oil in the U.S. commodities market has fallen from a high of $107 a barrel down to lows of $75 a barrel reported this week.

Since it takes approximately 30-45 days for crude oil to be processed into gasoline and delivered to local markets, the downward pressure on prices at the retail level is expected to continue through the end of the year.

AAA reports the following fuel price averages for November 19, 2014:

North Platte                                         $2.87
Columbus                                              $2.88
Fremont                                                 $2.90
Hastings                                                 $2.92
Lincoln                                                   $2.94
Omaha                                                   $2.95
Grand Island                                          $2.96
Scottsbluff                                             $2.98
Beatrice                                                 $2.98
Kearney                                                 $3.00
Norfolk                                                  $3.04
Statewide Average                               $2.97
National Average                                 $2.86
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