BALTIMORE, MD—For the third straight week, the nation’s average price of gasoline has increased, climbing 7.6 cents from a week ago to $3.65 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 22.1 cents from a month ago but 41.2 cents per gallon lower than a year ago. The national average price of diesel has fallen 0.3 cents in the last week and stands at $4.15 per gallon, 87.4 cents lower than one year ago.
“With oil prices touching their highest level of 2023 at nearly $83 per barrel, the national average price of gasoline has continued to inch higher, with 45 of the nation’s 50 states seeing prices rise over the last week. While the rising price of oil is likely the largest factor in rising gas prices, seasonal impacts continue to also exert pressure on prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“With the Northeast making the final step in the transition to summer gasoline this week, states in that region should expect a sharp rise in gasoline prices over the next week or two,” De Haan added. “Every other region has already seen the final step in the transition occur, so while other areas will see prices continue to slowly rise, the Northeast is likely to see a pretty hefty jump of 15-40 cents per gallon soon. Oil prices remain a wildcard, but we’re likely a few weeks away from seeing the national average peak. Whether it hits $4 per gallon or not is still perhaps a 50/50 chance.”
The most common U.S. gas price encountered by motorists stood at $3.59 per gallon, up 10 cents from last week, followed by $3.39, $3.49, $3.29, and $3.69 rounding out the top five most common prices. The median U.S. gas price is $3.53 per gallon, up 5 cents from last week and about 12 cents lower than the national average. The top 10% of stations in the country average $4.78 per gallon, while the bottom 10% average $3.15 per gallon. The states with the lowest average prices: Mississippi ($3.14), Arkansas ($3.22), and Louisiana ($3.27). The states with the highest average prices: California ($4.87), Hawaii ($4.76), and Arizona ($4.52).
See previous gas price reports here
In the Baltimore metro area, the cheapest gas this week could be found at the following locations:
Photo via Pixabay
