NOTTINGHAM, MD—For the second straight week, the nation’s average gas price has declined, falling 9.3 cents from a week ago to $3.77 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 10.2 cents from a month ago and 41.2 cents per gallon higher than a year ago. The national average price of diesel has risen 4.0 cents in the last week and stands at $5.30 per gallon.
“Average gas prices have declined for the second straight week with significant declines in the West and Great Lakes having an oversized effect on the drop in the national average,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With oil prices struggling a bit after reaching $93 after OPEC+’s decision to cut production, many regions could see falling gas prices again this week as demand continues to decline seasonally, especially if more data points to a significant economic slowdown. While gasoline prices have seen a large drop, diesel prices have been somewhat mixed, with prices heading higher in the Northeast as inventories drop to extremely tight levels ahead of the heating oil season. Motorists are reminded that the decline in gasoline prices is seasonal and should continue into the fall, and is unrelated to the coming election. Seasonality is king in driving prices, not the desires or hopes of politicians.”
The most common U.S. gas price encountered by motorists stood at $3.49 per gallon, up 10 cents versus last week, followed by $3.39, $3.29, $3.59 and $3.69 rounding out the top five most common prices. The median U.S. gas price is $3.54 per gallon, down 5 cents from last week and about 23 cents lower than the national average.
The top 10% of stations in the country average $5.56 per gallon, while the bottom 10% average $3.05 per gallon. The states with the lowest average prices: Georgia ($3.16), Texas ($3.17) and Mississippi ($3.26). The states with the highest average prices: California ($5.68), Hawaii ($5.17) and Alaska ($5.08).
See previous gas price reports here
In the NottinghamMD.com coverage area gas prices stayed almost exactly the same as last week. The cheapest gas as of Monday could be found at the following locations:
$3.43 per gallon
Costco
9919 Pulaski Highway
Middle River, MD 21220
$3.43 per gallon
BJ’s
4201 Wholesale Club Drive
Nottingham, MD 21236
Photo via Pixabay
