Business, Sci-Tech

Gas prices tick higher for second straight week

NOTTINGHAM, MD—For the second consecutive week, the nation’s average gas price has gone up, rising 2.3 cents from a week ago and stands at $3.29 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 5.5 cents from a month ago and 97.5 cents per gallon higher than a year ago. The national average price of diesel has risen 0.9 cents in the last week and stands at $3.57 per gallon.

“Oil prices have remained stubbornly strong, touching nearly $80 per barrel last week, pushing gasoline prices higher even as U.S. gasoline demand starts to struggle. Some of this is typical seasonal weakness, but the lack of demand is likely enhanced by omicron cases surging and Americans who are just a bit more hesitant to get out right now,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, unrest in Kazakhstan, the 18th largest oil producer, is likely leading to impacts on oil production, while continued unrest in Libya also worries markets and overpowers the seasonal drop in gasoline demand. Without improvement or stability in oil producing countries, we’re likely to continue to see upward pressure on oil prices.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $3.09, $3.15, $3.19 and $2.89 rounding out the five most common prices.  The average cost at the priciest 10% of stations stands at $4.37 per gallon, up 2 cents from a week ago, while the lowest 10% average $2.78 per gallon, up 4 cents from a week ago.  The median U.S. price is $3.15 per gallon, an increase of a penny from last week and about 14 cents lower than the national average.  The states with the lowest average prices: Texas ($2.87), Oklahoma ($2.89) and Arkansas ($2.91).  The states with the highest priced states: California ($4.63), Hawaii ($4.27) and Washington ($3.92).

See previous gas price reports here

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

$2.95 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

$2.96 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$2.97 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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