If you have filled up lately, you may have noticed gas prices are the lowest they have been here in months.
But we are still seeing higher prices than the rest of country, leaving folks in our valley asking why?
There are several reasons why we are not seeing prices around $1.50 like places in the Midwest.
List of 5 lowest gas prices by state
1. Oklahoma -- $1.34
2. Missouri -- $1.38
3. Indiana -- $1.42
4. Kansas -- $1.44
5. Ohio -- $1.45
1. Oklahoma -- $1.34
2. Missouri -- $1.38
3. Indiana -- $1.42
4. Kansas -- $1.44
5. Ohio -- $1.45
"What are oil prices doing? And then what are taxes on gasoline? And then what's happening in the world of refineries?" said investment advisor Mike PeQueen.
Oil prices right now are low, as America produces more crude oil.
"While that happened, Saudi Arabia said, 'we don't want to lose our market share,'" explained PeQueen. "So Saudi Arabia started to produce a lot more oil to push the prices down and to push the American producers out of business."
Next is taxes: Nevada is in the top half for gas taxes. PeQueen said if state 50 has the highest gas tax, Nevada is 35th. And he said the gas tax makes up the gap left from our absence of state income tax.
"We believe often times that the tourists that drive up will pay a big portion of that tax burden," he said
Last is refineries: How close we are to a refinery and the demand on the refinery.
"So where's the closest refinery to us? Southern California?" PeQueen said. "We're competing with Southern California for the finished product called gasoline.
List of 5 highest gas prices by state
1. Hawaii -- $2.64
2. California -- $2.47
3. Alaska -- $2.29
4. Nevada -- $2.17
5. Washington -- $2.070
1. Hawaii -- $2.64
2. California -- $2.47
3. Alaska -- $2.29
4. Nevada -- $2.17
5. Washington -- $2.070
