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Gas prices decline for sixth straight week

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NOTTINGHAM, MD—For the sixth straight week, the nation’s average gas price has fallen, declining 11.9 cents from a week ago to $3.09 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 57.1 cents from a month ago and 20.0 cents per gallon lower than a year ago. The national average price of diesel has fallen 14.1 cents in the last week and stands at $4.77 per gallon.

“The national average for a gallon of gasoline is down nearly $2 compared to six months ago, and heading into Christmas travel week, is at its lowest in a year and a half, saving Americans some $750 million every day,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the decline should take the national average under $3 per gallon in the next week or so, it is soon likely to fade as oil prices have held in the $70 per barrel range. But while the declines for gasoline may fade, diesel prices still have considerable ground to cover, and could fall another 50 cents or more in the weeks ahead. Fuel prices across the board have been plunging back into territory more Americans feel is normal, which could certainly boost economic sentiment going forward.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $2.79, $2.69 and $3.09 rounding out the top five most common prices. The median U.S. gas price is $2.99 per gallon, down 10 cents from last week and about 9 cents lower than the national average. The top 10% of stations in the country average $4.22 per gallon, while the bottom 10% average $2.44 per gallon. The states with the lowest average prices: Texas ($2.57), Oklahoma ($2.57), and Arkansas ($2.66). The states with the highest average prices: Hawaii ($5.02), California ($4.28), and Nevada ($4.06).

See previous gas price reports here

The cheapest gas in and around Nottingham 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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