Gas prices in Omaha down more than $2/gallon since June

AAA says the downward trend will continue as demand decreases.
The downward trend in gas prices is expected to continue.
Published: Dec. 28, 2022 at 2:15 PM CST
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OMAHA, Neb. (WOWT) - Gas prices continue to drop significantly in Omaha as 2022 winds to a close.

According to AAA, on Wednesday the average price for a gallon of regular unleaded in Omaha was about $2.78.

Compare that to a month ago around Thanksgiving, when the average was $3.30 per gallon -- or six months ago in June, when the price hit a yearly high of $4.83.

AAA of Nebraska’s Brian Ortner says two key factors are driving this downward trend.

“Obviously when we get in the colder driving months, the demand for gas goes down because people aren’t driving as much. Even with record travel between Christmas and the New Year’s holiday, we are seeing record numbers, but overall winter driving is down. So that helps drive the cost down. The supply is there, the demand is not. It balances itself out. Also, the cost of crude oil has gone down. We are at about $80 a barrel.”

Ortner says the decline in gas prices is really helping family budgets. For example, if you drive a car or SUV with a 20-gallon tank, filling up during June’s peak at $4.83 per gallon would have cost you about $96. In November, it would have been about $66. Today it’s roughly $55 -- a savings of $11 per tank from last month -- and more than $40 per tank from June.

The good news is AAA is predicting this downward trend will continue into 2023 until the weather gets warmer and people travel more.