Business, Sci-Tech

Gas prices jump for fifth straight week

NOTTINGHAM, MD—For the fifth straight week, the nation’s average gas price has gone up, rising 11.0 cents from a week ago to $4.57 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 up 45.4 cents from a month ago and $1.55 per gallon higher than a year ago. The national average price of diesel has fallen 1.7 cents in the last week and stands at $5.53 per gallon.

“Gasoline prices surged over the last week to new record highs, but have finally started to slow their rise with diesel also finally cooling off,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With more Americans planning to hit the road for Memorial Day this year compared to last, prices will be over $1.50 per gallon higher than last year. Though, prices are appearing to slow down, for now. While the coast isn’t clear yet, and prices will be at their highest Memorial Day level ever, I’m hopeful that we could avoid a dreaded national average of $5 per gallon this year. Whether or not we’re able to depends on Americans cutting demand in the face of sky high prices.”

The most common U.S. gas price encountered by motorists stood at $4.49 per gallon, up 30 cents from last week, followed by $4.39, $4.29, $4.19, and $4.09 rounding out the five most common prices. The median U.S. price is $4.39 per gallon, up 10 cents from last week and about 18 cents lower than the national average. The top 10% of stations in the country average $4.89/gal, while the bottom 10% average $4.00/gal. The states with the lowest average prices: Oklahoma ($3.99), Kansas ($4.03), and Arkansas ($4.09). The states with the highest prices: California ($6.04), Hawaii ($5.34), and Nevada ($5.21).

See previous gas price reports here

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

$4.33 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

$4.33 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$4.37 per gallon
BJ’s Wholesale Club
4201 Wholesale Club Drive
Nottingham, MD 21236

Photo by Ingo Joseph from Pexels

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