Gasoline prices are going up overnight — literally — in LV

Wednesday, March 3, 2004 | 11:20 a.m.

Blink your eyes and you could miss the latest gasoline price.

A gallon of regular cost, on average, $2.03 Tuesday in Nevada, but was $2.06 today. In Las Vegas, the average price shot from $2.06 to 2.09, according to a national survey by the American Automobile Association.

While the price of regular is what is used to determine market trends, prices of mid-grade and premium gasoline had similar rises in average prices in Nevada and locally.

And forecasters are not expecting the record prices to go down anytime soon.

"It is a distinct possibility it will continue to rise as we approach springtime when travel and the demand for gasoline is greater," said American Automobile Association spokesman Sean Comey.

"OPEC has cut production. While that has less of an impact on Las Vegas, which gets its gasoline from California refineries, this is a global market so everything that happens has a ripple effect."

Also, he says, crude oil is selling for about $37 a barrel. Anything above $28 is considered high. Comey said refineries that have been putting off buying crude hoping the price would go down, now are buying it at the high end.

Comey said another factor that has driven up local prices is that California refineries have cut production for the switch-over to produce summer blends. He said that operation typically wraps up at this time of year, which could reduce that factor in the local soaring prices.

Prices of regular gasoline in Las Vegas today are a whopping 38 cents higher than the national average of $1.71 a gallon, according to the AAA study that is updated daily.

Also in Las Vegas, the average price of mid-grade was $2.21 cents and premium was $2.29.

Just a month ago in Las Vegas, regular was selling for on average $1.74 a gallon.

Attorney General Brian Sandoval said this morning he planned to join with the attorney general of Arizona in asking Energy Secretary Abrahams to convene a joint federal-state inquiry to look into the Western states' gasoline market.

The inquiry, Sandoval said, would examine how the oil companies manage the transition period from winter to spring in changing the fuel and other policies.

Comey said cost-conscious consumers could save some money by looking around.

For example, this morning at Eastern Avenue and Pebble Road in Henderson, Jay's Market was selling a gallon of regular unleaded for $2.04, while its cross-the-street competitor Super A was selling it $2.06.

However, the Texaco at Sunset Road and Arroyo Grande, Chevron at Windmill and Pecos roads and Mobile at Pecos and Sunset Road each had a gallon of regular priced at $2.10.