Business, Sci-Tech

Gas prices rise on oil’s recovery

NOTTINGHAM, MD—After a short-lived decline, the nation’s average gas price has risen 1.7 cents per gallon from a week ago to $3.16 per gallon on Monday, according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country.

The national average now stands 3.8 cents higher than a month ago and 98.2 cents higher than a year ago. The national average price of diesel has risen 1.0 cents in the last week and stands at $3.27 per gallon.

“Last week’s decline of the national average price of gasoline was short-lived. Prices have now rebounded on continued strong gasoline demand in the U.S., which has pushed oil prices back up after a brief lull,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to GasBuddy data, demand last week set another 2021 high, eclipsing the previous week’s record as we head into the prime of the summer driving season. For the next week or two, we may continue to see gas prices inch higher. But, once schools begin re-opening and vacation season ends, we’ll likely see demand trail off, allowing for gas prices to decline gently heading into Labor Day.”

The most common U.S. gas price encountered by motorists was $2.99 per gallon, unchanged from last week, followed by $2.89, $3.09 and $2.79. The average cost at the priciest 10% of stations stands at $4.21 per gallon, up 4 cents from a week ago, while the lowest 10% average $2.71 per gallon, up 3 cents from a week ago. The median U.S. price is $2.99 per gallon, unchanged from last week and about 17 cents lower than the national average.

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The states with the lowest average prices: Mississippi ($2.76), Louisiana ($2.79) and Texas ($2.82). The states with the highest priced states: California ($4.35), Hawaii ($4.03) and Nevada ($3.98).

In the NottinghamMD.com coverage area, the cheapest gas as of Monday morning was located at Costco (9919 Pulaski Highway) and at Sam’s Club (6410 Petrie Way). The price per gallon for regular gas was $2.87 at each location, up from $2.83 last week.  BJ’s on Wholesale Club Drive was also relatively low at $2.91 per gallon of regular gasoline

The Shell station located at 2023 E. Joppa Road in Carney was among the most expensive in the area, with regular gasoline selling for $3.19 per gallon.

Photo by Ingo Joseph from Pexels

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