A month-old station in the Oklahoma capital yesterday became the first in the U.S. to sell regular gasoline for less than $2 a gallon since the bottom of the recession, according to data collected by GasBuddy Organization Inc. Cars lined up three-deep at the OnCue on Shields Boulevard -- and by 4 p.m., the 44 Food Mart down the street had countered with $1.98. Other nearby competitors started chiseling pennies away too. After sunset, seven miles away in the suburb of Moore, the Broadway Food Mart had them all beat at $1.95.
Oklahoma City is near important oil refineries, which eliminates almost all of the transportation cost in moving gasoline. Thus, it is always a leader in low gasoline prices.
(via Bloomberg)
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