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March Madness continues at the pump as gas prices rise for 4th straight week

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BALTIMORE, MD—The nation’s average price of gasoline has risen for the fourth straight week, climbing 6.4 cents from a week ago to $3.51 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 up 27.0 cents from a month ago and 8.7 cents per gallon higher than a year ago. The national average price of diesel has risen 2.0 cents in the last week and stands at $4.02 per gallon—21 cents lower than one year ago.

“We’ve now seen the national average price of gasoline rising for four straight weeks, which isn’t uncommon for this time of year. What is uncommon is the number of attacks on Russian oil refiners; attacks which could have ripple effects worldwide if they continue,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Russia could see more capacity impacted by the attacks, forcing it to buy such products on the global market, pushing prices up everywhere. With oil prices now under more pressure and attacks potentially increasing on Russian refiners, we could be in for a few more weeks of rising prices. Significant as well is the fact that Americans are now seeing inflation again at the pump with prices higher than they were a year ago.”

The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, unchanged from last week, followed by $3.29, $3.49, $3.19, and $3.09 rounding out the top five most common prices.  The median U.S. gas price is $3.39 per gallon, up 8 cents from last week and about 12 cents lower than the national average.  The top 10% of stations in the country average $4.75 per gallon, while the bottom 10% average $2.98 per gallon.  The states with the lowest average prices: Colorado ($3.02), Mississippi ($3.06), Louisiana ($3.13).  The states with the highest average prices: California ($4.95), Hawaii ($4.66), and Washington ($4.38).

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 20240325

Photo via Pixabay

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