Business, Sci-Tech

Gas prices dip for second straight week

NOTTINGHAM, MD—For the second consecutive week, the nation’s average gas price has declined, falling 8.8 cents from a week ago to $4.88 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 28.3 cents from a month ago and $1.79 per gallon higher than a year ago. The national average price of diesel has fallen 2.7 cents in the last week and stands at $5.79 per gallon.

“With Independence Day a week away, gas prices have continued to fall for the second straight week as the price of oil has faltered, ushering in the drop we’re seeing. The good news is we could also see a third straight week of decline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While prices will be at their highest July 4th level ever, they’ll have fallen close to 20 cents since our peak in early June. Motorists should be wary that while the decline could continue for the week ahead, any sudden jolts to supply could quickly cause a turnaround, and risk remains that when the peak of hurricane season arrives, we could see a super spike at the pump.”

The most common U.S. gas price encountered by motorists stood at $4.59 per gallon, down 40 cents from last week, followed by $4.69, $4.99, $4.89, and $4.79 rounding out the top five most common prices.  The median U.S. price is $4.77 per gallon, down 8 cents from last week and about 11 cents lower than the national average.  The top 10% of stations in the country average $6.09/gal, while the bottom 10% average $4.27/gal.  The states with the lowest average prices: Georgia ($4.37), South Carolina ($4.39), and Mississippi ($4.39).  The states with the highest prices: California ($6.30), Alaska ($5.58), and Nevada ($5.56).

See previous gas price reports here

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

$4.65 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$4.65 per gallon
10800 Pulaski Highway
White Marsh, MD 21162

$4.67 per gallon
High’s Dairy Store
9414 Scott Moore Way
Perry Hall, MD 21128

$4.67 per gallon
Carroll Motor Fuels
9525 Pulaski Highway
Middle River, MD 21220

Photo via Pixabay

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