BALTIMORE, MD—For the 13th week in a row, the nation’s average price of gasoline has dropped, falling 8.6 cents from a week ago to $3.03 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 26.9 cents from a month ago and 6.8 cents per gallon lower than a year ago. The national average price of diesel has fallen 9.2 cents in the last week and stands at $3.99 per gallon— 80 cents lower than one year ago.
“As the nation’s average price of gasoline has fallen for the 13th straight week, we’re on the cusp of potentially seeing a $2.99 per gallon average for the first time in years, most welcome just in time for the Christmas holiday,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the declines may soon come to an end as the price of oil has rebounded from recent lows, we could see a gentler 2024 at the pump for motorists. Gasoline could see its average fall below $3 this week while the price of diesel has just fallen below $4 for the first time since July, also very welcome news for the economy as nearly all goods are impacted by the price of diesel. All in all, the news continues to be good in terms of fuel prices as we enter into the closing innings of 2023. GasBuddy will be releasing full details on the year ahead in the coming weeks, giving motorists valuable insight on what to expect in 2024.”
The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.89, $2.79, $2.69, and $2.59 rounding out the top five most common prices. The median U.S. gas price is $2.88 per gallon, down 11 cents from last week and about 15 cents lower than the national average. The top 10% of stations in the country average $4.45 per gallon, while the bottom 10% average $2.37 per gallon. The states with the lowest average prices: Texas ($2.48), Oklahoma ($2.53), and Mississippi ($2.56). The states with the highest average prices: Hawaii ($4.67), California ($4.58), and Washington ($4.15).
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
