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No Joke: Gas prices take a break from jumping

BALTIMORE, MD—After climbing for four straight weeks, the national average is unchanged compared to a week ago at $3.51 per gallon on Monday, 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 16.1 cents from a month ago and 0.9 cents per gallon higher than a year ago. The national average price of diesel has fallen 2.9 cents in the last week and stands at $3.99 per gallon—20 cents lower than one year ago.

“No April Fools’ joke: the national average price of gasoline has finally slowed a bit after four weeks of notable increases, stalling in the mid-$3.50s for the last week or two, while the average for diesel fell back below $4 per gallon—not a bad week for motorists as rising demand would normally put solid upward pressure on prices,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, motorists have a bit of a reprieve from the constant big weekly price jumps. While we seem to be nearing a short-term peak, one word of caution for those in the Mid-Atlantic and Northeast: you haven’t yet finished the transition to summer gasoline, so you may experience some sticker shock in a few weeks. Be prepared for somewhat of a punch. For the rest of the nation, so long as we don’t see extenuating circumstances, we’re likely close to a top in prices. Let’s hope it pans out and sticks!”

The most common U.S. gas price encountered by motorists stood at $3.29 per gallon, down 10 cents from last week, followed by $3.19, $3.39, $3.49, and $3.59 rounding out the top five most common prices. The median U.S. gas price is $3.35 per gallon, down 4 cents from last week and about 16 cents lower than the national average. The top 10% of stations in the country average $4.85 per gallon, while the bottom 10% average $2.94 per gallon. The states with the lowest average prices: Colorado ($3.03), Mississippi ($3.04), Texas ($3.10). The states with the highest average prices: California ($5.06), Hawaii ($4.64), and Washington ($4.48).

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 20240401

Photo via Pixabay

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