Business, Sci-Tech

Gas prices fall to lowest levels since February

NOTTINGHAM, MD—For the third straight week, the nation’s average gas price has declined, falling 12.4 cents from a week ago to $3.52 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 22.7 cents from a month ago and 14.1 cents per gallon higher than a year ago. The national average price of diesel has fallen 7.9 cents in the last week and stands at $5.20 per gallon.

“As millions of Americans hit the road for Thanksgiving, we saw gasoline prices continue dropping coast to coast last week, and a new record was set for the largest single day decline in the national average. In addition, 47 of the nation’s 50 states have seen diesel prices falling as well, providing well-needed relief ahead of the holidays and helping to stem the rise in inflation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “All the metrics look very positive for motorists as this week is likely to continue seeing falling gasoline prices, with many areas falling to the lowest level since Russia’s invasion of Ukraine in February. It’s entirely possible the national average price of gasoline could fall under $3 per gallon by Christmas, which would be a huge gift to unwrap for motorists after a dizzying year at the pump.”

The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, down 10 cents from last week, followed by $2.99, $3.29, $3.19, and $3.49 rounding out the top five most common prices. The median U.S. gas price is $3.39 per gallon, down 10 cents from last week and about 13 cents lower than the national average. The top 10% of stations in the country average $4.89 per gallon, while the bottom 10% average $2.75 per gallon. The states with the lowest average prices: Texas ($2.83), Oklahoma ($2.94), and Arkansas ($2.99). The states with the highest average prices: Hawaii ($5.14), California ($4.97), and Nevada ($4.66).

See previous gas price reports here

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

EDITOR’S NOTE: No Nottingham-area gas stations were included in this week’s reported from GasBuddy.

Photo via Pixabay

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