Business, Sci-Tech

Gas prices jump as West Coast skyrockets

NOTTINGHAM, MD—For the second straight week, gas prices have headed higher, with the nation’s average gas price posting a rise of 11.1 cents from a week ago to $3.78 per gallon on Monday, according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 stations nationwide.

The national average is up 0.4 cents from a month ago and 59.8 cents higher than a year ago. The national average price of diesel has declined 2.9 cents in the last week and stands at $4.86 per gallon.

“With gas prices continuing to surge on the West Coast and Great Lakes, the national average saw its second straight weekly rise. But at the same time, areas of the Northeast and Gulf Coast have continued to see declines as the nation experiences sharp differences in trends between regions,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some West Coast states saw prices rise 35 to 55 cents per gallon in the last week as refinery issues continued to impact gasoline supply, which fell to its lowest level in a decade in the region, causing prices to skyrocket. While I’m hopeful there will eventually be relief, prices could go a bit higher before cooling off. In addition, OPEC could decide to cut oil production by a million barrels as the global economy slows down, potentially creating a catalyst that could push gas prices up further.”

The most common U.S. gas price encountered by motorists stood at $3.29 per gallon, unchanged versus last week, followed by $3.39, $3.19, $3.69 and $3.99 rounding out the top five most common prices. The median U.S. gas price is $3.49 per gallon, unchanged from last week and about 29 cents lower than the national average.
The top 10% of stations in the country average $6.09 per gallon, while the bottom 10% average $2.92 per gallon. The states with the lowest average prices: Mississippi ($3.02), Louisiana ($3.06) and Texas ($3.06). The states with the highest average prices: California ($6.25), Oregon ($5.36) and Nevada ($5.34).

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:

$3.23 per gallon
Sam’s Club
6410 Petrie Way Rd.
Rosedale, MD 21237

$3.23 per gallon
BJ’s
4201 Wholesale Club Drive
Nottingham, MD 21236

Photo via Pixabay

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