Business, Sci-Tech

Gas prices see double-digit drop, could extend streak to fourth week

NOTTINGHAM, MD—For the third straight week, the nation’s average gas price has declined, falling 10.4 cents from a week ago to $4.78 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 7.1 cents from a month ago and $1.66 per gallon higher than a year ago. The national average price of diesel has fallen 6.3 cents in the last week and stands at $5.72 per gallon.

“As expected, and for the third straight week, average gasoline prices have fallen to their lowest level in over a month. The price of wholesale gasoline has plummeted, providing price relief as millions of Americans hit the road for the holiday weekend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday. For the time being, Americans are spending nearly $100 million per day less on gasoline than when prices peaked a few weeks ago, and that’s well-needed relief at a time when gas prices remain near records.”

The most common U.S. gas price encountered by motorists stood at $4.49 per gallon, down 10 cents from last week, followed by $4.59, $4.69, $4.39, and $4.79 rounding out the top five most common prices. The median U.S. price is $4.66 per gallon, down 11 cents from last week and about 11 cents lower than the national average. The top 10% of stations in the country average $6.03/gal, while the bottom 10% average $4.13/gal. The states with the lowest average prices: South Carolina ($4.25), Georgia ($4.28), and Mississippi ($4.29). The states with the highest prices: California ($6.21), Hawaii ($5.58), and Alaska ($5.53).

See previous gas price reports here

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

$4.50 per gallon
Royal Farms
9620 Belair Road
Nottingham, MD 21236

$4.51 per gallon
910 Philadelphia Road
Joppa, MD 21085

$4.51 per gallon
High’s Dairy Store
9414 Scott Moore Way
Perry Hall, MD 21128

$4.51 per gallon
9809 Belair Road
Perry Hall, MD 21128

$4.51 per gallon
11625 Philadelphia Road
White Marsh, MD 21162

Photo via Pixabay

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