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Gas prices see slight post-holiday dip

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BALTIMORE, MD—After rising last week, the nation’s average price of gasoline has reverted, falling 1.6 cents from a week ago to $3.06 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.

The national average is down 17.3 cents from a month ago and 12.6 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.5 cents in the last week and stands at $3.96 per gallon—71 cents lower than one year ago.

“After a brief hiatus, the national average has moved off its recent high, again falling closer to the $3 per gallon mark, setting up a potential second attempt at slipping below $2.99 for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While gas prices have risen in some areas, such as California after refinery snags emerged, other states have returned to declines. Illinois is one such example, falling below $3 per gallon for the first time since 2021. The Great Lakes and Gulf Coast offer some of the nation’s lowest gas prices, with the window of opportunity holding for the next few weeks to potentially re-test some of the levels seen a few weeks ago. The good news continues for average diesel prices, which slipped below $4 per gallon again and stand at their lowest level since the summer.”

The most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from last week, followed by $2.79, $2.89, $2.69, and $3.09 rounding out the top five most common prices.

The median U.S. gas price is $2.89 per gallon, down 6 cents from last week and about 17 cents lower than the national average.

The top 10% of stations in the country average $4.44 per gallon, while the bottom 10% average $2.49 per gallon.

The states with the lowest average prices: Oklahoma ($2.59), Mississippi ($2.62), and Arkansas ($2.63).

The states with the highest average prices: California ($4.64), Hawaii ($4.55), and Washington ($4.05).

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 20240102


Photo via Pixabay

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