Nevada Gas Prices Fall as National Averages Rise Amid Uncertainty

Nevada's gas prices are continuing to drop, despite rising national averages. According to AAA's weekly fuel report, the average price for a gallon of regular gasoline in Nevada fell by 2 cents last week to $4.76.

The national average, however, has reversed course and risen to $4.07 after briefly dipping to $4.00 on Monday. Crude oil prices have returned to the $80 per barrel range amid continued uncertainty along the Strait of Hormuz.

Doug Johnson, spokesperson for AAA Mountain West Group, said that gasoline demand is down, but crude oil prices are keeping pump prices higher than normal for this time of year.

The Energy Information Administration (EIA) reported that gasoline demand decreased last week from 9.03 million barrels per day to 8.96 million, while total domestic gasoline supply fell from 209.7 million barrels to 208.7 million.