Spring is traditionally the season when gas prices begin to rise, but that hasn’t happened yet here in Kansas.
“We’ve seen a slight decline in most of the areas around the state that we monitor,” said AAA’s Jim Hanni. “This past week, I think Salina may have been the only one that actually went up a couple of cents, but everything else has been going down.”
One major Kansas city is doing very well.
“Wichita is among the lowest metro areas in the country now,” said Hanni. “They’re ranked 51st lowest. Kansas actually moved up three spots from 14th lowest state for the average price of gasoline to 11th.”
The average today is $2.16 a gallon.
“There’s been some bearish sentiment in the market, the global oil market,” said Hanni. “Speculation about the balance between OPEC cuts and U.S. production being greater now than in the past.”
The Organization of Petroleum Exporting Countries are generally following the production cutbacks they planned, but the rig count in the U.S. continues to grow, which is mitigating that reduction for now, though Hanni expects prices to increase as demand increases headed toward the summer driving season.