Business, Sci-Tech

Gas prices tick higher, over $1 per gallon higher than a year ago

NOTTINGHAM, MD—The nation’s average gas price rose last week, climbing 1.5 cents from a week ago and stands at $3.27 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 11.1 cents from a month ago and $1.09 per gallon higher than a year ago. The national average price of diesel has risen 0.3 cents in the last week and stands at $3.56 per gallon.

“After a pretty long run of falling gas prices, we’ve seen things stabilize. Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, Great Lakes states were expected to see a price hike last week, but the hike hasn’t happened just yet, leading me to believe it will occur in short order this week and send the national average higher. For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $3.19, $3.09, $2.89 and $3.29 rounding out the five most common prices. The average cost at the priciest 10 percent of stations stands at $4.35 per gallon, up 4 cents from a week ago, while the lowest 10 percent average $2.74 per gallon, up 3 cents from a week ago. The median U.S. price is $3.14 per gallon, an increase of a penny from last week and about 13 cents lower than the national average. The states with the lowest average prices: Oklahoma ($2.84), Texas ($2.88) and Arkansas ($2.90). The states with the highest priced states: California ($4.63), Hawaii ($4.28) and Washington ($3.86).

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

$2.87 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

$2.89 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$2.91 per gallon
BJ’s Wholesale Club
4201 Wholesale Club Drive
Nottingham, MD 21236

$2.97 per gallon
8809 Belair Road
Nottingham, MD 21236

Photo by Ingo Joseph from Pexels

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