Gas prices in Nebraska fall to $2 per gallon average

Average retail gasoline prices in Nebraska have fallen 5.2 cents per gallon in the past week, averaging $2 per gallon on Monday, according to GasBuddy’s daily survey of 1,150 gas outlets in Nebraska. This compares with the national average that has fallen 5.4 cents per gallon in the last week to $2.12 per gallon, according to gasoline price website GasBuddy.com.

Gas in Sidney continues to be among the lowest in the nation. Western Convenience at 440 Illinois St. is selling unleaded gas at $1.68 per gallon, while the Conoco at Silverberg Drive and I-80 ($1.69), Thrifty’s Gas at Sidney Chase Drive and I-80 ($1.71) and Sapp Brothers at Upland Parkway and I-80 ($1.73) aren’t far behind.

Including the change in gas prices in Nebraska during the past week, prices on Monday were 116.9 cents per gallon lower than the same day one year ago and are 62.9 cents per gallon lower than a month ago. The national average has decreased 48.6 cents per gallon during the last month and stands 118.7 cents per gallon lower than this day one year ago.

“All in all, it wasn’t a bad week for motorists filling their tanks,” said Patrick DeHaan, senior petroleum analyst with GasBuddy. “Since last week, some 12,000 stations dropped their price under $2 per gallon, with 45.1 percent of all gas stations (nearly 61,000) now selling under the $2 per gallon mark.

“The national average currently stands at its lowest since May 9, 2009, a date that saw 8.9 percent unemployment and Phil Jackson coaching the Los Angeles Lakers toward the NBA title,” DeHaan added. “This time around, the drop in gasoline is far more joyous and isn’t overshadowed by a polar plunge in the economy. And it doesn’t stop there. Overnight, the average price for diesel fuel in the U.S. dropped under $3 per gallon for the first time since Oct. 2, 2010, and will shed yet another 25-50 cents per gallon before reaching a bottom.

“Meanwhile, various domestic mid-continent crudes have dropped to the $30 per barrel range, or in the “danger zone” – territory where oil companies are starting to cut back on operations – a zone that could ultimately result in a slingshot back in prices down the road.”