The average price for a gallon of regular unleaded gasoline in Nevada is now $1.78, a decline of 10 percent since the AAA survey a month ago. Statewide, most cities have seen prices at the pump drop to well below the $2 per gallon mark.
In Las Vegas, the average price for regular unleaded is $1.81, a drop of 19 cents a gallon, or 10 percent, since the AAA survey a month ago. In Reno, a gallon of gas now costs an average of $1.74, down 19 cents, or 10 percent, since the AAA survey in April.
"Motorists probably haven't seen the last of declining prices." said Comey. "AAA expects prices will continue to drop. We may see a small blip upwards around Memorial Day as the summer driving season gets under way, but otherwise, the outlook looks good."
The drop in gas prices is largely due to the falling price of crude oil. Crude oil has dropped more than $5 a barrel over the past two months and has recently hovered in the mid-$20-per-barrel range. Additionally, refineries that supply Nevada gas stations report strong gasoline production levels. For these reasons, AAA believes gas prices are likely to decline.
California's average has fallen 10 percent, to $1.91 per gallon for regular unleaded. Nationally, prices are down 10 cents since the last AAA survey and now average $1.50 per gallon.
