Tulsa gas prices have fallen 4.4 cents per gallon in the past week, averaging $1.33/g Monday, according to GasBuddy’s daily survey of 321 stations.

Gas prices in Tulsa are 38 cents per gallon lower than a month ago and stand 112.5 cents per gallon lower than a year ago.

The cheapest station in Tulsa is priced at $0.99/gallon today while the most expensive is $2.09/gallon, a difference of $1.10/gallon. The lowest price in the state Monday was $0.94/gallon while the highest is $2.01/gallon, a difference of $1.07/gallon.

The national average price of gasoline has fallen 5 cents per gallon in the last week, averaging $1.78/gallon. The national average is down 33.1 cents per gallon from a month ago and stands 106.4 cents per gallon lower than a year ago.

Demand for fuel dropped 20% in March in America as hundreds of millions of Americans stayed at home in light of the coronavirus pandemic, according to a study by GasBuddy.com.

GasBuddy released its first quarterly report on consumer fuel buying trends. Along with the 20% decline in gallons pumped in March year-over-year, additional declines include a 14% drop in fuel transactions and a 28% drop in total payment volume (TPV). 

These drops come at a time when gasoline has never been more affordable due to the massive global surplus of crude oil and drop in demand.

“The dramatic shift in fuel buying upends the pattern of rising gas prices and demand ahead of the warmer months. This data reflects the depth of the impact to consumer and commercial activity the world is experiencing,” said Sarah McCrary, chief executive officer at GasBuddy.

Examining month-over-month transactions, gallons purchased dropped 10% from February through March 2020.

This is a reversal of the trend in transactions established in the previous two years. In March 2019, gallons purchased increased 20%, while in March 2018 gallons purchased increased by 25%.

Weakened Gasoline Demand Disrupts Seasonal Fuel Buying Trends

The first quarter of 2020 saw a 9% drop in gallons pumped, a 6.6% drop in monthly fuel transactions and a 21% drop in monthly total payment volume from January through March.

February through March saw the most significant drops, with monthly fuel transactions decreasing 6.5%, gallons purchased decreasing 10% and monthly TPV decreasing 18.2% from the prior month, largely due to the stay-at-home orders enacted during the COVID-19 pandemic.

This trend is different from the previous year, where monthly fuel transactions from February to March of 2019 increased 17.6%, gallons purchased increased 20% and monthly TPV increased 32.2%.

Twenty Eight Percent of Americans Overpaid for Gas

 Due to the drastic movements in gas prices during the COVID-19 pandemic, 28% of Americans found themselves “overpaying” for gas by paying more than the average price for their gasoline purchase in Q1.

The states with the highest number of transactions that paid more than the average price include Ohio (32.6%), Arizona (32%), North Carolina (30.8%), Indiana (30.7%) and Michigan (30.6%).

Half of the top 10 states where most drivers overpaid for gas are located in the Great Lakes region, where high levels of competition between gas stations pushed more frequent changes in prices, leading to a higher chance of overpaying.

Gas Station Brand Loyalty Decreases 3% Year-Over-Year

Gas station brand loyalty decreased 3% from Q1 2019 to Q1 2020, with 55% of consumers transacting at more than one gas station brand per month in 2020 compared to 58% in Q1 2019.

Focusing on the “super pumper” drivers who filled up more than once per week or four times per month, more than half (56%) filled up at 2-3 different brands.

Americans Paid Nearly $28 Per Transaction

The average cost of a fuel transaction in Q1 2020 was $27.53.  The state with the highest average fuel bill was Alaska at $40 per tank followed by California at $34.50 per tank. 

The state that paid the least for their fill-ups was Oklahoma at $25.40 per tank. Even though gas prices dropped from February through March to $1.97 per gallon, the average cost for gasoline increased 7 cents per fill-up from Q1 of 2019, when the national average price was $2.38 per gallon.