Business, Sci-Tech

Gas prices climb for sixth straight week, almost $1 per gallon higher than a year ago

NOTTINGHAM, MD— For the sixth straight week, the nation’s average gas price is up, rising 8.0 cents from a week ago and stands at $3.42 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 12.3 cents from a month ago and 97.5 cents per gallon higher than a year ago. The national average price of diesel has risen 8.3 cents in the last week and stands at $3.78 per gallon, the highest since September 2014.

“Gas prices saw their sharpest rise in months last week as oil surged to $93 per barrel, on continued concerns over Russia invading Ukraine and that there won’t be enough supply to meet demand come this summer,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With the national average at its highest level since 2014, the news is grim: motorists should expect even more price increases, with the larger jumps coming later this spring as a confluence of seasonal factors and the potential flare up in geopolitical tensions. Ultimately, the national average could be pushed to record territory by the start of the summer driving season.”

The most common U.S. gas price encountered by motorists stood at $3.19 per gallon, unchanged from last week, followed by $3.29, $3.39, $3.09, and $3.49 rounding out the five most common prices.  The average cost at the priciest 10% of stations stands at $4.39 per gallon, up 1 cent from a week ago, while the lowest 10% average $2.98 per gallon, up 8 cents from a week ago.  The median U.S. price is $3.29 per gallon, up 10 cents from last week and about 13 cents lower than the national average.  The states with the lowest average prices: Mississippi ($3.06), Arkansas ($3.08), and Oklahoma ($3.08).  The states with the highest prices: California ($4.65), Hawaii ($4.41), and Washington ($3.93).

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:

$2.97 per gallon
BP
8809 Belair Road
Nottingham, MD 21236

$3.19 per gallon
Costco
9919 Pulaski Highway
Middle River, MD 21220

$3.19 per gallon
BJ’s Wholesale Club
4201 Wholesale Club Drive
Nottingham, MD 21236

$3.06 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

Photo by Ingo Joseph from Pexels

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