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Gas prices decline for fifth straight week

NOTTINGHAM, MD—For the fifth consecutive week, the nation’s average gas price has fallen, declining 14.4 cents from a week ago to $3.21 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 56.5 cents from a month ago and 11.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 14.9 cents in the last week and stands at $4.91 per gallon.

“Not only has the decline in gasoline prices lasted five straight weeks, with again every state seeing a weekly decline in its average, but average diesel prices have fallen in 49 states over the last week as well. The relief is saving Americans roughly $20 per fill-up compared to six months ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “On the previously hard-hit West Coast, average prices have fallen nearly $2 per gallon since October. Fifteen states now have average gasoline prices of $2.99 or less, with several more to join this week. We remain on schedule to see the national average gas price fall below $3 by Christmas, with diesel set to fall 50 cents to $1 per gallon over the next six weeks or so. While the Keystone Pipeline shutdown has been getting some attention, motorists need not worry much about the oil-carrying pipeline for now. There is no expected impact to gasoline prices as of now.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $3.09, $2.89, $2.79 and $3.19 rounding out the top five most common prices.  The median U.S. gas price is $3.09 per gallon, down 16 cents from last week and about 12 cents lower than the national average.  The top 10% of stations in the country average $4.35 per gallon, while the bottom 10% average $2.53 per gallon.  The states with the lowest average prices: Texas ($2.66), Oklahoma ($2.67), and Arkansas ($2.76).  The states with the highest average prices: Hawaii ($5.02), California ($4.45), and Nevada ($4.22).

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:

$3.08 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237

$3.08 per gallon
Carroll Motor Fuels
1602 E. Joppa Road
Towson, MD  21286

Photo via Pixabay

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