Nevada drivers will pay an average of $3.83 per gallon of regular gasoline this month versus $2.61 last year. This is a 46.8 percent increase equaling $1.22 per gallon.
Of the two Nevada metropolitan areas analyzed, drivers in Reno faced the largest price hike at the pump in the last year of $63.13. Las Vegas (NV only) was spared the worst pain, with the price of gas rising $58.21 from January 2021 to January 2022.
In a Nov. 23, 2021 letter to President Joe Biden, Senator Catherine Cortez Masto (D-Nev.) applauded the President’s decision to release crude oil form the strategic oil reserve to attempt to temper rising gasoline prices.
“I write to you today to urge you to develop a long-term, coordinated strategy to address high gas prices in the State of Nevada and throughout the country. Rising gas prices are hurting Nevadans, and it is critical for the Administration to work to protect our workers, small businesses, and families,” wrote Senator Cortez Masto.
Despite opening the strategic oil reserve, the price of gasoline has continued to increase.
Gas prices across the US hit a seven-year high following a significant drop at the beginning of the COVID-19 pandemic.
The price of gas, derived from the cost of oil manufactured around the world, has the power to substantially change the free market and influence many industries.
A short-term outlook report from the US Energy Information Administration predicted gas rates will fall throughout 2022.
Nevada drivers average 1,168 miles and use 48.3 gallons of gasoline per month, according to the FHA.
| Market | 2022 | 2021 | CHG | % | Total increase |
|---|---|---|---|---|---|
| Reno | $4.09 | $2.78 | $1.31 | 47.0% | $63.13 |
| Las Vegas (NV only) | $3.81 | $2.60 | $1.21 | 46.4% | $58.21 |
Alerts Sign-up