Nevada gasoline prices expected to keep rising

Wednesday, Feb. 18, 2004 | 11:24 a.m.

Gasoline prices are expected to continue to escalate in Nevada, having jumped 9 percent since January and outpacing the nation, AAA Nevada reported today.

"Consumers may get hit with another round of price hikes on top of what we've already endured over the last month," AAA Nevada spokesman Sean Comey said.

The average gas price in Las Vegas is $1.83 per gallon for regular unleaded fuel, up 16 cents per gallon from January. Energy analysts say that trend will likely continue because of high crude oil prices, a weak dollar and increased demand for fuel in cold-climate states.

Fred Rozell, retail pricing director for Oil Pricing Information Services in Lakewood, N.J., said refineries are reducing production to change the gas blend and stock up for the summer when consumption is at its highest. He said the United States will likely top last summer's record-breaking consumption of 9 million barrels of fuel per day.

"There'll be some scary points in terms of supply and demand, but I don't think we'll run out of gas," Rozell said.

Rozell expects prices to fall and then rise again in the summer. He said states with more stringent environmental requirements such as California will see supply problems and resulting higher prices.

The nation's average gas price is $1.64 per gallon for regular unleaded fuel. The cheapest gas in the nation can be found in Tulsa, Okla., at $1.43 per gallon.