Nevada gas pump price moderates a bit

Nevada gasoline pump prices on average dipped below $3.30 per gallon and Carson City’s lowest gas price at three stations was $2.93, GasBuddy.com said Monday.

The state average recorded in a survey of 1,130 outlets throughout the Silver State was a lowering by Sunday of two cents a gallon from the previous Sunday, dipping to $3.29 on average. In Carson City, the $2.93 price on Monday was listed at Costco, 700 Old Clear Creek Road, at Eagle Gas, 1360 S. Carson St., and at JM Gasoline, 1321 N. Carson St. The price in the state’s capital normally is well below the statewide average.

Nationally, GasBudldy.com reported an increase of 0.4 cents per gallon to $2.75 per gallon. Lower prices are coming, according to Patrick DeHaan, petroleum analyst for the gas price monitoring website.

“Gasoline prices are poised to begin declining at a faster pace after staying relatively steady across much of the U.S. this past week,” DeHaan said. “While oil prices saw a major jump last Friday, I do not believe it will interrupt expected relief that will soon show up at many pumps across the country.”

DeHaan said fundamentally oil prices in the $60 per barrel range are overvalued. He said with crude oil production at multi-decade highs, the gasoline price shouldn’t advance much if any.

“In fact,” he said, “where gasoline prices have soared the most in the last two months, coming relief will be notable.” He said peaks in gas prices already have been seen in many places.