NOTTINGHAM, MD—For the fourth straight week, the nation’s average gas price has fallen, declining 15.8 cents from a week ago to $3.36 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 43.0 cents from a month ago and 1.5 cents per gallon higher than a year ago. The national average price of diesel has fallen 13.6 cents in the last week and stands at $5.06 per gallon.
“For the first time in 670 days, the national average price of gasoline has fallen below its year-ago level, dropping for the fourth straight week to its lowest level since January,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Every state has again seen average gasoline prices drop in the last week, and it remains very possible the national average could fall under $3 per gallon by Christmas. There has also been a drop in diesel prices, which this week will fall back under $5 per gallon, and could soon thereafter fall to their lowest level since March. However, despite all the good news about fuel prices, there may be some concerns coming as the price cap on Russian oil kicks in. Retaliation is possible, and while OPEC+ upheld production cuts from last month, they could always cut more production. For now, however, we’ll likely see another week of declines at the pump in nearly all areas.”
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, down 40 cents from last week, followed by $3.29, $3.19, $3.09 and $3.39 rounding out the top five most common prices. The median U.S. gas price is $3.25 per gallon, down 14 cents from last week and about 11 cents lower than the national average. The top 10% of stations in the country average $4.58 per gallon, while the bottom 10% average $2.63 per gallon. The states with the lowest average prices: Texas ($2.72), Oklahoma ($2.79), and Arkansas ($2.88).
The states with the highest average prices: Hawaii ($5.08), California ($4.67), and Nevada ($4.44).
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:
$3.15 per gallon
BJ’s
4201 Wholesale Club Drive
Nottingham, MD 21236
$3.15 per gallon
7-Eleven
9410 Harford Road
Parkville, MD 21234
$3.15 per gallon
Costco
9919 Pulaski Highway
Middle River, MD 21220
Photo via Pixabay
