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Gas prices rise as transition to summer fuel begins

BALTIMORE, MD—The nation’s average price of gasoline is back on the rise, climbing 3.5 cents from a week ago to $3.36 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 down 6.5 cents from a month ago and 69.3 cents per gallon lower than a year ago. The national average price of diesel fell 4.6 cents in the last week and stands at $4.34 per gallon, 26.8 cents lower than one year ago.

“The national average rose last week as the transition to summer gasoline has now started across the entire country. The higher cost of these various blends is being passed along to motorists, as we see every year ahead of the summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Some regions are moving to the required summer gasoline in different steps then others, and the fragmentation of required blends absolutely plays a role in these price increases,” De Haan added. “Logistical challenges in making the transition during a time when refiners are also doing maintenance work can create hotspots and lead to noticeable jumps in prices during the spring. While we may not see weekly increases, the overall trend will remain upward through much of the spring. By Memorial Day, most of the nation will have transitioned to their respective required blend of fuel, and gas prices could ease, but a $4 per gallon national average remains possible by then.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, down 20 cents from last week, followed by $3.19, $3.09, $3.29, and $3.49 rounding out the top five most common prices. The median U.S. gas price is $3.21 per gallon, up 2 cents from last week and about 15 cents lower than the national average. The top 10% of stations in the country average $4.61 per gallon, while the bottom 10% average $2.84 per gallon. The states with the lowest average prices: Mississippi ($2.92), Texas ($2.94), and Arkansas ($2.98). The states with the highest average prices: California ($4.83), Hawaii ($4.78), and Nevada ($4.27).

See previous gas price reports here

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

Lowest Baltimore Gas Prices 20230306

Photo via Pixabay

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