Business, Sci-Tech

Gas price decline halts as Great Lakes prices soar

NOTTINGHAM, MD—For the first time in the last month, the nation’s average gas price has increased, rising 6.2 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 gas stations across the country.

The national average is down 11.5 cents from a month ago but stands 37.8 cents per gallon higher than a year ago. The national average price of diesel has risen 3.4 cents in the last week and stands at $5.32 per gallon.

“Just over half of the nation’s 50 states saw gasoline prices rise last week, pulling the national average back up for the time being due to big jumps in the Great Lakes and continued increases in New England and mid-Atlantic states,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, the rise in the Great Lakes, brought on by tight supply, has already started to ease, and declines should start again. In the northeastern U.S., prices are likely to inch up a bit more. National diesel supply remains tight, but supplies of diesel did see a slight rise last week. The majority of stations, especially away from the East Coast and Northeast, should have very few issues with diesel supply, though some stations in those regions could see diesel delivery times slip. Brief outages at a limited number of stations are possible, but with refineries continuing to churn out product and maintenance wrapping up, I’m optimistic the situation will improve.”

The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, down 30 cents from last week, followed by $3.89, $3.99, $3.29, and $3.79 rounding out the top five most common prices. The median U.S. gas price is $3.69 per gallon, up 12 cents from last week and about 15 cents lower than the national average. The top 10% of stations in the country average $5.23 per gallon, while the bottom 10% average $3.01 per gallon. The states with the lowest average prices: Georgia ($3.08), Texas ($3.13), and Mississippi ($3.17). The states with the highest average prices: California ($5.35), Hawaii ($5.13), and Nevada ($4.91).

See previous gas price reports here

In the 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:

$3.49 per gallon
9919 Pulaski Highway
Middle River, MD 21220

$3.49 per gallon
4201 Wholesale Club Drive
Nottingham, MD 21236

$3.49 per gallon
Sam’s Club
6410 Petrie Way Rd.
Rosedale, MD 21237

Photo via Pixabay

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