(Las Vegas CBS KXNT) Consumers in Las Vegas are paying an average of 6 cents-per-gallon more to fill their vehicles than the rest of the nation, according to petroeum price-tracking website GasBuddy.com.
The national average has come down about 10 cents in the past month, said Senior Gas Buddy Analyst Greg Laskoski, while the avergae price in Las Vegas has risen 10 cents over the same period. Production at west coast and Rocky Mountain refineries that supply Las Vegas is lagging refineries across the nation, Laskoski told KXNT on Tuesday.
Relief may come in the next few weeks. Wholesale prices are easing down, but the retail price doesn’t catch up until local dealers use up their current high-priced supply and begin to receive new shipments that reflect the downward trend.
But geopolitical events are a wild card that could drive the price back up. A war between Iran and Israel could cause major disruption for the U.S. motor fuel market.
“A lot of people think that something could happen well before the U.S. election in November,” Laskoski said. “We would see significant spikes in crude oil prices, and that would have to translate into spikes in retail gasoline.”