Observations all along the line - Kimball & the Southern Panhandle First

Kimball Gas Averaging $2.14

Average gasoline prices Monday were $2.14 per gallon in Kimball, 2 cents lower than last week, the Western Nebraska Observer’s survey of local gas stations shows.

That price is 3 cents higher than the statewide average of $2.11 and 11 cents lower than the national average of $2.25 that GasBuddy reported Monday.

GasBuddy, which releases weekly gas price reports, said average Nebraska prices at 1,150 stations were 7.3 cents lower than a week ago, 52 cents lower than a year ago and unchanged from a month ago.

It said the national average was 0.8 cents lower than last week, 1.1 cents higher than a month ago and 34.6 cents lower than a year ago. this past year.

Regionally, the report said prices this past week were $2.16 in Lincoln, $2.13 in South Dakota and $2.11 in Omaha.

“While oil prices have risen to their highest in months on the instability in Venezuela’s political situation, gasoline demand has remained weak and supply strong, thus keeping increases firmly in check,” GasBuddy analyst Patrick DeHaan said.

“As the record gasoline supply continues to overshadow markets ahead of the road to summer gasoline, any updrafts at the pump will be small and limited for now, but once the transition begins the supply overhang will be drawn down in short order as refiners liquidate winter gasoline, ushering in eventually higher prices come late- February and early March.”

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