Fuel prices in Nome dropped by more than a dollar in August. At one location, they were as low as $3.69. With prices often more than $6 per gallon, the drop was a rare and welcome start to the hunting season.
Elsewhere, the drop in crude oil prices globally impacted gas prices at the start of the coronavirus pandemic epidemic in April. With fuel deliveries only scheduled for July this year, it took a while for Nome’s prices to catch up. Fortunately, that means they should remain low.
“One of the advantages that we have here is, because we purchase our fuel basically a year at a time or longer, Nome is going to benefit from these prices for a much longer time frame,” said Scot Henderson, the CEO of Bonanza Fuel.
The company will also extend the lowered prices to heating fuel, a great relief for many.
Henderson said, “we’re excited. It’s nice to be able to provide lower energy costs for the community. Because of COVID-19, businesses and households have been under a lot of financial stress. So, we’re hoping that providing lower prices to the community will help Nome and its residents and businesses to recover from the devastating impacts of the pandemic.”
Image at top: Nome’s gas prices have decreased by more than a dollar, for the first time in decades.