BALTIMORE, MD—The nation’s average price of gasoline has remained unchanged from a week ago, holding at $3.50 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 price of diesel has fallen 1.3 cents in the last week and stands at $3.79 per gallon.
“After declining going into July 4, average gasoline prices have struggled to find much momentum in either direction as the price of crude oil has continued to bounce around, digesting offsetting news on both sides of the scale: supply, which OPEC+ continues to try and tighten, and weak global demand as monetary policy restrains growth,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“I don’t see much chance of a major break out of the tight range we’ve held since April, but there is rising risk for hurricane season and potential disruptions as major forecaster Colorado State University released its third forecast for the 2023 hurricane season, showing a sharp uptick in the number of expected major hurricanes,” De Haan added. “Heading into the prime of summer gasoline demand, any disruptions, whether storms or unexpected outages and what might be a small challenge outside of the summer driving season, could be a larger problem, so there is some risk to gas prices going into the second half of summer.”
The most common U.S. gas price encountered by motorists stood at $3.29 per gallon, up 10 cents from last week, followed by $3.49, $3.19, $3.39, and $3.09 rounding out the top five most common prices. The median U.S. gas price is $3.39 per gallon, unchanged from last week and about 11 cents lower than the national average. The top 10% of stations in the country average $4.79 per gallon, while the bottom 10% average $2.92 per gallon. The states with the lowest average prices: Mississippi ($2.94), Louisiana ($3.03), and Alabama ($3.06). The states with the highest average prices: Washington ($4.91), California ($4.82), and Hawaii ($4.65).
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
