Pain at pump persists as Nevada sees record high

Nevada gasoline costs set a document excessive Wednesday, reaching a mean value of $5.34 per gallon— 3 cents larger than the week prior.

Nevada stays 67 cents above the $4.67 nationwide common worth for gasoline. California, at a mean $6.19 per gallon, continues to have the best gasoline costs for the reason that starting of the gasoline spike.

Nevada’s common gasoline worth is third highest within the nation, simply 10 cents decrease than Hawai’i’s second highest common worth at $5.44 per gallon.

Costs throughout the Silver State differ, with Clark County sitting at a mean of about $5.27 per gallon. Washoe County holds the excellence of highest gasoline costs within the state with a mean worth of $5.82.

Over Memorial Day weekend, demand for gasoline remained excessive as Nevada noticed costs at $5.30, one of many highest within the nation.

“Memorial Day weekend was very busy and predicted to be the busiest journey day since 2019,” mentioned John Treanor, spokesperson for AAA Nevada. “Memorial Day weekend is often a precursor for what occurs throughout the summer time.”

Based on Head Petroleum Analyst at GasBuddy Patrick De Haan, individuals ought to buckle in for an costly summer time in terms of their gasoline tank — principally resulting from lack of refining capability.

With oil costs reaching $115 per barrel, Nevada will proceed to be a goal for top pump costs resulting from lack of direct entry to grease and refining capability.

“During the last three years we have now misplaced about 1,000,000 barrels a day in refining capability,” mentioned De Haan. “We’re nonetheless consuming about 8.8 million barrels of gasoline on a regular basis.”

Nevada is essentially tied to Southern California refineries and if any points come up $6 a gallon is “one of many playing cards within the deck” based on De Haan.

“We get loads of oil from California the place environmental refinement of oil is costlier,” mentioned Treanor. “(Nevada doesn’t) have a lot entry to grease, we don’t have a pipeline.”

Fuel costs have continued to rise nationally since early March when america put a ban on Russian oil imports because of the Russian invasion of Ukraine, based on Treanor. Russia is likely one of the world’s largest oil producers.

There isn’t a solution to predict the place gasoline costs will go from right here whereas the battle in Europe continues to rage on and demand for gasoline stays excessive.

Demand for gasoline will stay excessive due to Russia,” mentioned Treanor. “I want we knew when the break would come, we simply don’t.”

Assessment-Journal reporter Emerson Drewes may be reached at edrewes@reviewjournal.com or through Twitter @EmersonDrewes