NOTTINGHAM, MD—After falling for two weeks, the nation’s average gas price is unchanged from last week, holding at $3.37 per gallon 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 2.7 cents from a month ago and 14.5 cents per gallon lower than a year ago. The national average price of diesel has fallen 6.9 cents in the last week and stands at $4.45 per gallon.
“Motorists across many areas of the country have seen gas prices inching down for another week, while some states have moved higher. We’ve seen some refinery challenges in pockets of the country, while others are starting the transition to summer gasoline, weighing on prices. For diesel, the outlook remains bright with prices continuing to fall, ” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Oil prices have softened over the last week, helping to limit any upside at the pump, with strong economic data leading to concern that the Fed will continue to use interest rates to slow the economy,” De Haan added. “This could weaken demand as we head into the peak summer driving season. For diesel, the great news is that the most common price in the U.S. for diesel is now $3.99 per gallon, with average prices continuing to drop. In the next couple of weeks, diesel will finally flip to deflationary compared to a year ago, which is excellent news for the economy.”
The most common U.S. gas price encountered by motorists stood at $3.19 per gallon, down 10 cents from last week, followed by $3.29, $3.09, $2.99, and $3.39 rounding out the top five most common prices. The median U.S. gas price is $3.24 per gallon, down 3 cents from last week and about 13 cents lower than the national average. The top 10% of stations in the country average $4.52 per gallon, while the bottom 10% average $2.88 per gallon. The states with the lowest average prices: Texas ($2.97), Mississippi ($2.98), and Oklahoma ($3.02). The states with the highest average prices: Hawaii ($4.84), California ($4.66), and Nevada ($4.13).
See previous gas price reports here
In the NottinghamMD.com 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
