Omaha gas prices rise to average of $4.89 per gallon

(Michael Van Schoik)
Published: Jun. 13, 2022 at 11:14 AM CDT
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OMAHA, Neb. (WOWT) - Gas prices continue to climb both nationally and here in Omaha.

Average gas prices in Omaha reached $4.89 per gallon Monday, according to GasBuddy price reports.

A survey of 300 gas stations in Omaha revealed average gas prices have risen 20.1 cents per gallon in just the last week.

The cheapest gas in Omaha was priced at $4.44 per gallon on Sunday, and the most expensive was $5.55 per gallon. Meanwhile, the cheapest gas in all of Nebraska was priced at $4.35 per gallon on Sunday.

According to AAA, the average price for a gallon of gas in Nebraska is $4.75 as of Monday.

GasBuddy price reports say nationally, average gas prices have risen by 15.7 cents per gallon in the past week, with one gallon averaging $5.01 on Monday. One year ago, the national average gas price was $3.07 per gallon.

“For the first time ever, last week saw the national average reach the $5 per gallon mark, as nearly every one of the nation’s 50 states saw prices jump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, the upward momentum may slow down, but prices are still just one potential supply jolt away from heading even higher.”

Several factors are causing the rise in gas prices.

  • Global oil prices have been rising since December and the price of international crude has roughly doubled in that time.
  • Russia’s invasion of Ukraine and the resulting sanctions by the United States and its allies have contributed to the rise. Russia is a leading oil producer.
  • The United States is the world’s largest oil producer, but U.S. capacity to turn oil into gasoline is down 900,000 barrels of oil per day since the end of 2019, according to the Energy Department.
  • Tighter oil and gasoline supplies are hitting as energy consumption rises because of the economic recovery.
  • Finally, Americans typically drive more starting around Memorial Day, adding to the demand for gasoline.

The Associated Press contributed to this report.

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