LAS VEGAS, Nev. June 19, 2018 – Nevada gas prices held steady for the past month, and could be nearing their summer peak. But analysts say prices could rise again this month if summer travel demand continues to increase.
Nevada’s statewide average price for a gallon of regular, unleaded gasoline has hovered around $3.30 for the past month, settling at $3.31 as of Monday evening. In Southern Nevada, Las Vegas gas prices were at $3.29 on Monday, just lower than the state average.
Stations in Reno were selling gas for about $3.50 on average, according to AAA’s monthly survey of local stations. When incorporating the larger Reno Metro region, the average price was closer to $3.45.
Prices have been higher in 2018 primarily because of strong consumer demand for fuel. Gasoline demand spiked in the latest Energy Information Administration’s (EIA) report, setting a new all-time record at 9.88 million barrels per day for the week ending June 8.
As demand skyrockets, U.S. gasoline inventories plummeted 2.27 million barrels, to land total inventories at 237 million, which is 5.7 million barrels below stocks last year at this time.
“If demand continues to strengthen and inventories decrease in the weeks ahead, motorists can expect gas prices do a reversal and start to increase again,” said Michael Blasky, spokesman for AAA Nevada.
AAA June Gas Price Report
|AAA Monthly Gas Price Averages||Price|
|NORTH LAS VEGAS||3.30|
AAA’s Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express, LLC.
AAA Nevada offers a wide array of automotive, travel, insurance, DMV, financial services and consumer discounts to its members. AAA has been a leader and advocate for the safety and security of all travelers since it was founded more than 117 years ago.