Business, Sci-Tech

Gas prices fall for seventh straight week

NOTTINGHAM, MD—For the seventh straight week, the nation’s average gas price has declined, falling 15.9 cents from a week ago to $4.17 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 65.5 cents from a month ago and $1.02 per gallon higher than a year ago. The national average price of diesel has declined 14.8 cents in the last week and stands at $5.27 per gallon.

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week. Even better, nearly 20 states have also seen their average decline to $3.99 or less, with over 70,000 stations now at that level or below,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do. For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

The most common U.S. gas price encountered by motorists stood at $3.99 per gallon, unchanged from last week, followed by $3.79, $3.89, $3.69, and $4.09 rounding out the top five most common prices. The median U.S. price is $3.99 per gallon, down 20 cents from last week and about 18 cents lower than the national average. The top 10% of stations in the country average $5.46/gal, while the bottom 10% average $3.48/gal. The states with the lowest average prices: Texas ($3.67), South Carolina ($3.69), and Oklahoma ($3.72). The states with the highest prices: California ($5.56), Hawaii ($5.33), and Oregon ($5.05).

See previous gas price reports here

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

$3.85 per gallon
Crown
10800 Pulaski Highway
White Marsh, MD 21162

$3.89 per gallon
Costco
9919 Pulaski Highway
Middle River, MD 21220

$3.89 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD  21237

$3.93 per gallon
Carroll Motor Fuels
910 Philadelphia Road
Joppa, MD 21085

Photo via Pixabay

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