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Gas prices expected to hit all time high for first day of new year

December 28, 2012

Average retail gasoline prices in Oklahoma have risen 2.6 cents per gallon in the past week, averaging $2.98/g yesterday, according to GasBuddy's daily survey of 2,294 gas outlets in Oklahoma. This compares with the national average that has not moved in the last week to $3.24/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Oklahoma during the past week, prices on December 24th were unchanged compared to the same day one year ago and are 13.7 cents per gallon lower than a month ago. The national average has decreased 19.1 cents per gallon during the last month and stands 1.3 cents per gallon higher than this day one year ago.

"With just hours to go before Christmas, it appeared that the national average may set a new all-time record high, barely edging out 2011 as the most expensive average for gasoline on Christmas Day," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The bad news likely won't stop there- gasoline prices in six out of the last seven years have increased between Christmas Day and January 15 of the following year. If the national average rises to at least $3.26/gal before New Years Day it will mark the highest start for gas prices ever on the first day of the year," DeHaan said.

 

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