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Gas prices decline for fourth straight week ahead of Memorial Day weekend

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BALTIMORE, MD—For the fourth consecutive week, the nation’s average price of gasoline has decreased by 3.5 cents from a week ago to $3.55 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 down 12.0 cents from a month ago but is 2.2 cents per gallon higher than a year ago. The national average price of diesel has fallen 3.3 cents in the last week and stands at $3.86 per gallon—12 cents lower than one year ago.

“The news continues to be good for motorists ahead of Memorial Day, with gasoline prices again falling, making it four straight weeks of declines for the national average as we get closer to the start of the summer driving season,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The good news doesn’t necessarily end there, either. GasBuddy’s Summer Travel Forecast, coming out tomorrow, will also give motorists mostly good news for the rest of the summer, predicting that gas prices over the next few months will stay far under record levels and should continue trending lower as we get closer to July 4. While the Middle East, hurricane season, refinery maintenance and any other unexpected disruptions or weather remain wildcards, this summer is shaping up to be mostly favorable for drivers hitting the road.”

The most common U.S. gas price encountered by motorists stood at $3.49 per gallon, unchanged from last week, followed by $3.39, $3.59, $3.69, and $3.29 rounding out the top five most common prices.
The median U.S. gas price is $3.45 per gallon, unchanged from last week and about 10 cents lower than the national average.  The top 10% of stations in the country average $5.05 per gallon, while the bottom 10% average $2.97 per gallon.

he states with the lowest average prices: Mississippi ($3.00), Oklahoma ($3.03), Louisiana ($3.07).
The states with the highest average prices: California ($5.14), Hawaii ($4.73), and Washington ($4.54).

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 20240520

Photo via Pixabay

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