BALTIMORE, MD—The nation’s average price of gasoline has seen a weekly gain, rising 4.5 cents from a week ago to $3.07 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 4.1 cents from a month ago and 41.2 cents per gallon lower than a year ago. The national average price of diesel has fallen 0.5 cents in the last week and stands at $3.87 per gallon—79 cents lower than one year ago.
“We’ve seen the national average price of gasoline bounce back up after cold-weather-related refinery shutdowns pushed up the wholesale price of gasoline. Plus, recent GDP data and new attacks in the Red Sea have pushed oil prices to their highest level since November,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While prices have inched up and may continue to slowly rise, I believe the larger increases will be witnessed in a few weeks as we enter mid-February, lasting through April or May, during which the national average could rise 35 to 85 cents per gallon. Other issues and tensions could complicate how quickly prices rise or how high they go, so while the rise is not completely charted, it could deviate from our expectations.”
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, $3.09, and $3.19 rounding out the top five most common prices. The median U.S. gas price is $2.96 per gallon, up 3 cents from last week and about 11 cents lower than the national average. The top 10% of stations in the country average $4.28 per gallon, while the bottom 10% average $2.54 per gallon. The states with the lowest average prices: Utah ($2.61), Wyoming ($2.63), Oklahoma ($2.64). The states with the highest average prices: Hawaii ($4.65), California ($4.45), and Washington ($3.88).
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
