Lincoln gas prices have fallen 5.5 cents per gallon in the past week, averaging $2.72/g Monday, according to GasBuddy's daily survey of 146 stations. Gas prices in Lincoln are 7.9 cents per gallon lower than a month ago, yet stand 8.3 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Lincoln is priced at $2.37/g Monday while the most expensive is $2.99/g, a difference of 62.0 cents per gallon. The lowest price in the state today is $2.19/g while the highest is $2.91/g, a difference of 72.0 cents per gallon. The cheapest price in the entire country today stands at $1.82/g while the most expensive is $5.49/g, a difference of $3.67/g.
The national average price of gasoline has fallen 6.8 cents per gallon in the last week, averaging $2.63/g today. The national average is down 15.9 cents per gallon from a month ago, yet stands 21.7 cents per gallon lower than a year ago.
Historical gasoline prices in Lincoln and the national average going back a decade:
August 12, 2018: $2.80/g (U.S. Average: $2.85/g)
August 12, 2017: $2.35/g (U.S. Average: $2.35/g)
August 12, 2016: $2.18/g (U.S. Average: $2.12/g)
August 12, 2015: $2.65/g (U.S. Average: $2.59/g)
August 12, 2014: $3.37/g (U.S. Average: $3.47/g)
August 12, 2013: $3.61/g (U.S. Average: $3.53/g)
August 12, 2012: $3.75/g (U.S. Average: $3.70/g)
August 12, 2011: $3.55/g (U.S. Average: $3.59/g)
August 12, 2010: $2.89/g (U.S. Average: $2.76/g)
August 12, 2009: $2.68/g (U.S. Average: $2.62/g)
Neighboring areas and their current gas prices:
Omaha- $2.54/g, down 5.6 cents per gallon from last week's $2.60/g.
Nebraska- $2.56/g, down 2.2 cents per gallon from last week's $2.58/g.
Topeka- $2.50/g, down 0.5 cents per gallon from last week's $2.50/g.
"The national average price of gasoline has now fallen to the lowest level of the summer, but even better, the lowest since March as gas stations pass along the recent drop in oil prices brought on by the U.S./China trade rift," said Patrick DeHaan, head of petroleum analysis at GasBuddy.
"However, the drops in gas prices could slow in the weeks ahead as some OPEC members talk about cutting oil production to stem the recent drop in oil prices. That possibility pushed oil back up $3 per barrel from the lows seen last week. However, a production cut from oil producers may be more akin to putting lipstick on a pig as oil markets have plenty of downside ahead as demand for fuels begins to move lower into the fall with summer driving season ending soon. The U.S. national average could fall an additional 35 cents per gallon by Thanksgiving even after this week's drop should the trade tensions and geopolitical risks remain the same."
For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.