Business, Sci-Tech

Gas prices rise for fifth straight week

NOTTINGHAM, MD—For the fifth straight week, the nation’s average gas price has increased, climbing 9.7 cents from a week ago to $3.49 per gallon this week, 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 up 33.3 cents from a month ago and 14.1 cents per gallon higher than a year ago. The national average price of diesel has risen 5.4 cents in the last week and stands at $4.65 per gallon.

“The national average price of gasoline has risen for the fifth straight week as retailers pass along the rise in wholesale gasoline prices due to continued challenges: refinery utilization that still hasn’t fully recovered from December’s cold weather, and refinery maintenance season that’s just around the corner,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“There appears to be little good news on the gas price front, with prices unlikely to turn around any time soon. Because of the surge in prices last spring, many refineries that had planned maintenance deferred maintenance until 2023,” De Haan added. “With the can kicked to this year, we may have similar challenges producing enough refined products to meet demand, especially with the European Union cutting off refined products from Russia starting February 5.”

The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, up 20 cents from last week, followed by $3.49, $3.19, $3.29 and $3.59 rounding out the top five most common prices.  The median U.S. gas price is $3.39 per gallon, up 7 cents from last week and about 10 cents lower than the national average.  The top 10% of stations in the country average $4.37 per gallon, while the bottom 10% average $3.02 per gallon.  The states with the lowest average prices: Texas ($3.09), Oklahoma ($3.13) and Arkansas($3.15).  The states with the highest average prices: Hawaii ($4.88), California ($4.48) and Washington ($4.03).

See previous gas price reports here

In the coverage area, the cheapest gas this week could be found at the following locations:

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

Photo via Pixabay

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