National Gasoline Average Drops for First Time in Three Weeks

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For the first time in three weeks, the nation’s average price of gasoline has decreased, falling 2.7 cents compared to a week ago and stands at $3.08 per gallon, 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 7.0 cents from a month ago and is 32.3 cents per gallon lower than a year ago. The national average price of diesel has decreased 1.8 cents in the last week and stands at $3.690 per gallon.

“After rising for two straight weeks, the national average price of gasoline saw a slight decline in the last week as oil prices fell below $64 per barrel, paving the way for prices to ease in most states,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

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Oil prices were seeing slight increases to start the week as markets eye talks between the U.S. and Russia, with tremendous pressure on Russia by the U.S. to end the three-year war on Ukraine. In early Monday trade, WTI crude oil was up 33 cents to $64.21 per barrel, up from $65.72 last Monday. Brent crude oil was also higher, rising 34 cents to $66.93 per barrel, down from last Monday’s $68.22 per barrel start.

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U.S. oil inventories fell by 3.0 million barrels, and are about 6% below the seasonal average for this time of year, while the SPR rose 200,000 barrels to 403.0 million.

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The states with the lowest average prices: Oklahoma ($2.64), Mississippi ($2.66), and Texas ($2.67).

The states with the highest average prices: California ($4.45), Hawaii ($4.37), and Washington ($4.36).

Biggest weekly changes: Ohio (-20.6¢), Colorado (-11.0¢), Indiana (-8.9¢), New Mexico (-8.4¢), Iowa (-8.3¢)

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The states with the lowest average diesel prices: Texas ($3.19), Oklahoma ($3.28), and Mississippi ($3.28).

The states with the highest average diesel prices: Hawaii ($5.25), California ($5.11), and Washington ($5.02).

Biggest weekly changes: Nebraska (-6.8¢), Texas (-6.5¢), North Carolina (-6.0¢), Oklahoma (-6.0¢), New Mexico (-5.4¢)

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