BALTIMORE, MD—The national average gas price increased by 6.1 cents this week, reaching $3.14 per gallon, according to GasBuddy. This rise, observed across over three-quarters of U.S. states, is attributed to surging oil prices.
Patrick De Haan, head of petroleum analysis at GasBuddy, explained that the optimism surrounding potential trade deals and an easing of the tariff-induced economic slowdown contributed to the price surge. Additionally, rising oil prices, fueled by economic optimism and tightening gasoline inventories, exerted upward pressure on prices.
Despite the increase, motorists are still enjoying significant savings compared to last year, with the national average sitting 41.0 cents lower than a year ago. However, De Haan cautions that this gap is narrowing as oil prices rebound. The national average has increased by 1.9 cents since last month.
The recent rally in energy markets, sparked by de-escalating trade tensions between China and the U.S., has since faded. Concerns over slowing economic growth in China, indicated by weaker industrial output and retail sales data, have contributed to this shift.
See previous gas price reports here
In and around the Nottingham area, the cheapest gas this week could be found at these locations…
- Bowleys Quarters
- Carney
- Edgewood
- Essex
- Fallston
- Joppa
- Kingsville
- Middle River
- Nottingham
- Overlea/Fullerton
- Parkville
- Perry Hall
- Rosedale
- Rossville
- Towson
- White Marsh
This article was written with the assistance of AI and reviewed by a human editor.
Photo via Pixabay
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