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Gas prices dip as SoCal-supplied markets surge

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BALTIMORE, MD—For the first time in two weeks, the nation’s average price of gasoline has declined, falling 3.1 cents from a week ago to $3.80 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 1.3 cents from a month ago and 13.6 cents per gallon higher than a year ago. The national average price of diesel has decreased 1.4 cents in the last week and stands at $4.53 per gallon, 38.0 cents lower than one year ago.

“It’s been a mostly quiet week for the national average price of gasoline, with most states seeing gas prices cool off. But new and continued refinery issues in some regions have had an oversized effect on gas prices in some states, especially in Southern California, Arizona, and Nevada,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“While most states are likely to continue seeing gasoline prices fall in the week ahead, any new refinery issues as others begin maintenance could be problematic,” De Haan added. “For diesel prices, however, the opposite is playing out, with prices that continue to rise as demand for diesel strengthens. Overall, the largest issues impacting gas prices remain refinery disruptions, but also the price of oil, which has held around $90 per barrel as Saudi Arabia and Russia maintain significant production cuts.”

The most common U.S. gas price encountered by motorists stood at $3.59 per gallon, down 10 cents from last week, followed by $3.49, $3.69, $3.89, and $3.39 rounding out the top five most common prices. The median U.S. gas price is $3.59 per gallon, down 10 cents from last week and about 21 cents lower than the national average. The top 10% of stations in the country average $5.57 per gallon, while the bottom 10% average $3.16 per gallon. The states with the lowest average prices: Mississippi ($3.23), Georgia ($3.25), and South Carolina ($3.31). The states with the highest average prices: California ($5.77), Nevada ($5.02), and Washington ($4.98).

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 20230925

Photo via Pixabay

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