NOTTINGHAM, MD—For the seventh straight week, the nation’s average gas price has fallen, declining 4.9 cents from a week ago to $3.05 per gallon on Tuesday, 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 50.2 cents from a month ago and 20.3 cents per gallon lower than a year ago. The national average price of diesel has fallen 8.6 cents in the last week and stands at $4.68 per gallon.
“While the national average declined for the seventh straight week, with oil prices rallying, it remains to be seen if we will manage another week of gasoline price declines. We’re still waiting for the national average to fall below $3 per gallon, something that is suddenly a bit less likely given the extreme cold weather, interrupting refining operations in the south, curbing gasoline production and potentially driving prices up slightly,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While some of the nation’s lowest priced gas stations will probably be forced to raise prices slightly, with some declines still happening in the West Coast, there remains a chance, albeit smaller one, that we could still see the national average fall below $3 per gallon. With the New Year on the doorstep, however, the biggest question motorists have remains what will happen in 2023 – a question GasBuddy’s annual Fuel Outlook will answer later this week.”
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $2.69, $2.79 and $2.59 rounding out the top five most common prices. The median U.S. gas price is $2.92 per gallon, down 7 cents from last week and about 13 cents lower than the national average. The top 10% of stations in the country average $4.20 per gallon, while the bottom 10% average $2.47 per gallon. The states with the lowest average prices: Texas ($2.62), Oklahoma ($2.64), and Georgia ($2.66).
The states with the highest average prices: Hawaii ($5.00), California ($4.27), and Nevada ($3.92).
See previous gas price reports here
In the NottinghamMD.com coverage area, the cheapest gas as of Monday could be found at the following locations:
$2.79 per gallon
Sam’s Club
6410 Petrie Way Road
Rosedale, MD 21237
$2.79 per gallon
Royal Farms
1501 62nd Street
Rosedale, MD 21237
Photo via Pixabay
