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Gas prices fall for 12th straight week

BALTIMORE, MD—For the 12th consecutive week, the nation’s average price of gasoline has posted a decline, falling 9.6 cents from a week ago to $3.12 per gallon this week according to GasBuddy data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country.

While gas prices still haven’t hit the lows they reached in 2020, the national average is down 23.7 cents from a month ago and 10.1 cents per gallon lower than a year ago. The national average price of diesel has fallen 8.4 cents in the last week and stands at $4.10 per gallon— 86 cents lower than one year ago.

“For the 12th straight week, or three straight months, the national average has continued to decline, now at its lowest level of 2023 heading into the prime of the holiday season as oil prices continue to struggle amidst cooling demand,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With nearly 80,000 gas stations in the U.S. now priced below $3 per gallon, and 23 states also seeing average prices of $2.99 or less, motorists are getting substantial relief at the pump in time for the holidays. The trend is likely to continue in most states this week, while the national average could soon fall below $3.05 per gallon, the lowest since 2021. The good news may continue into 2024, with GasBuddy’s annual Fuel Outlook being released in just a few weeks.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $3.09, $2.79, and $3.19 rounding out the top five most common prices. The median U.S. gas price is $2.99 per gallon, down 8 cents from last week and about 12 cents lower than the national average. The top 10% of stations in the country average $4.52 per gallon, while the bottom 10% average $2.45 per gallon. The states with the lowest average prices: Oklahoma ($2.55), Texas ($2.58), and Mississippi ($2.63). The states with the highest average prices: California ($4.69), Hawaii ($4.66), and Washington ($4.25).

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 20231211

Photo via Pixabay

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