BALTIMORE, MD—After weeks of steady climbing, the national average price of gasoline fell 1.9 cents on Monday to $3.24 per gallon, according to data released by GasBuddy. The price of diesel also fell 2.6 cents to $4.06 per gallon.
The national average price of gasoline is currently 13.3 cents higher than last month but 9.2 cents lower than a year ago. The price of diesel is 33 cents lower than a year ago.
“Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the pause has certainly been nice, this is more like a rain delay than it is a 7th-inning stretch.”
De Haan said it is likely oil prices will rise again soon as demand picks up. He said WTI futures have struggled to find traction after reaching just below $80 per barrel last week. Prices fell 42 cents in early Monday trade to $76.07 per barrel, off some $3 from last Monday’s $79.24 start. Brent crude oil was also down 43 cents to $81.19 per barrel, off from $83.43 last Monday.
The Fed is also expected to take time to lower rates in the near term, which could also slow demand for oil.
See previous gas price reports here
In the Baltimore metro area, the cheapest gas this week could be found at the following locations:
This article was written with the assistance of AI and reviewed by a human editor.
Photo via Pixabay
