Gasoline prices in the Las Vegas Valley have experienced a significant increase, nearing the $4 per gallon threshold. Over the past week, the average price for a gallon of regular unleaded gas has risen by 21 cents, reaching $3.94, according to AAA data. Patrick De Haan, a lead petroleum analyst with GasBuddy, indicated that prices are expected to surpass $4 at most stations in the coming days.
This surge in prices is attributed to the seasonal transition from winter grade gas, which is cheaper, to the more costly summer grade gas. This changeover is further complicated by the PBF Energy refinery in Northern California remaining offline due to a fire in February. De Haan pointed out that this situation is compounded by increased demand as warmer weather arrives.
The 6 percent rise in gas prices over the past week in Southern Nevada represents a 14-cent increase compared to a month ago. However, it’s still 55 cents cheaper than the $4.49 per gallon average from the same time last year.
De Haan expressed concerns about the potential for prolonged high prices, noting that the refinery might not resume operations until later in the year, which could pose challenges in maintaining price relief throughout the summer.
Statewide, the average gas price is $3.92, having increased by 17 cents over the week. Nevada’s average remains significantly higher than the national average of $3.20 per gallon. Nationally, only California, Hawaii, and Washington have higher gas prices than Nevada.