BALTIMORE, MD—The national average price of gasoline in the United States has declined by 3.8 cents over the past week, reaching $3.09 per gallon, according to GasBuddy, which compiles data from over 12 million price reports covering 150,000 gas stations nationwide. This marks a 6.9-cent drop from a month ago and a significant 41-cent decrease compared to a year ago. Diesel prices also fell, dropping 2.4 cents to $3.465 per gallon.

Patrick De Haan, head of petroleum analysis at GasBuddy, noted that the most substantial declines occurred in the Great Lakes region, where a minor refinery issue was resolved, lowering wholesale gas prices. “We’re also beginning to see prices retreat in California, a trend that should soon extend across much of the West Coast as additional gasoline shipments from Asia help offset recent refinery disruptions,” De Haan said. He expressed optimism about further price declines due to increased refinery output, though he cautioned that unexpected outages could cause temporary spikes.

Oil prices, however, surged after OPEC+ confirmed a production increase of 441,000 barrels per day for July, a move that aligned with expectations but still drove market gains. West Texas Intermediate crude oil rose nearly 5% to $63.64 per barrel, while Brent crude climbed over 4% to $65.44 per barrel in early Monday trading. Giovanni Staunovo, a commodities analyst at UBS, said the physical oil market remains tight, capable of absorbing the additional supply, though much of the increase is being consumed domestically by OPEC+ nations.

According to the U.S. Energy Information Administration’s report for the week ending May 23, 2025, U.S. oil inventories dropped by 2.8 million barrels, sitting 6% below the seasonal average. Gasoline inventories fell by 2.4 million barrels, 3% below the five-year average, while distillate stocks decreased by 0.7 million barrels, 17% below the seasonal norm. Refinery utilization remained steady at 90.2%, and implied gasoline demand rose significantly to 9.452 million barrels per day.

The most common gas price reported was $2.99 per gallon, with the median at $2.95, down 4 cents from last week. The top 10% of stations averaged $4.52 per gallon, while the bottom 10% averaged $2.52. Mississippi ($2.63), Texas ($2.67), and Tennessee ($2.68) had the lowest average gas prices, while California ($4.70), Hawaii ($4.42), and Washington ($4.34) recorded the highest. For diesel, Texas ($2.97), Oklahoma ($3.08), and Mississippi ($3.09) offered the lowest prices, with Hawaii ($5.19), California ($5.00), and Washington ($4.62) the highest.

Notable weekly gas price drops included Indiana (-13.3 cents), Ohio (-12.9 cents), and Michigan (-12.7 cents). For diesel, Hawaii (-7.6 cents), South Dakota (-6.5 cents), and Florida (-6.4 cents) saw the largest declines.

As summer approaches, analysts expect gasoline inventories to remain tight but anticipate that increased refinery activity could stabilize or further lower prices, barring unforeseen disruptions.

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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