Business, Sci-Tech

Gas prices ease for third straight week, sub-$4 national average returning soon

NOTTINGHAM, MD—For the third consecutive week, the nation’s average gas price has declined, falling 7.5 cents from a week ago and stands at $4.10 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 is down 23.3 cents from a month ago and $1.25 per gallon higher than a year ago. The national average price of diesel has fallen 4.4 cents in the last week and stands at $5.04 per gallon.

“Gas prices have continued to move in the right direction – down- saving Americans approximately $100 million every day compared to when prices peaked about a month ago. And, more good news is on the horizon: the national average this week will likely fall back under the critical $4 per gallon mark,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “It remains possible that gas prices may have hit their 2022 peak, barring the typical caveats like the Russia war on Ukraine, the economy, hurricane season and COVID don’t take drastic and unexpected turns. Diesel prices are also falling and likely to go back under the $5 per gallon average this week. The situation for now continues to show signs of improving, with the national average falling back into the $3 range as early as this week.”

The most common U.S. gas price encountered by motorists stood at $3.99 per gallon, unchanged from last week, followed by $3.89, $3.79, $3.69, and $4.09 rounding out the five most common prices. The median U.S. price is $3.89 per gallon, down 10 cents from last week and about 21 cents lower than the national average. The states with the lowest average prices: Oklahoma ($3.65), Kansas ($3.68), and Arkansas ($3.68). The states with the highest prices: California ($5.76), Hawaii ($5.20), and Nevada ($5.08).

See previous gas price reports here

In the coverage area, the cheapest gas as of Monday could be found at the following locations:

$3.49 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$3.49 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

BJ’s Wholesale Club
4201 Wholesale Club Drive
Nottingham, MD 21236

Photo by Ingo Joseph from Pexels

Facebook Comments
Please follow and like us: