National Gasoline Average Falls Below $3.00/gallon, and Hits Lowest Point Since May 2021

quote:

---

The nation’s average price of gasoline has fallen 8.5 cents over the last week and stands at $2.95 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 6.9 cents from a month ago and is 5.4 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.5 cents in the last week and stands at $3.72 per gallon.

“Nearly every state saw average gas prices fall heading into Thanksgiving, with the national average dipping below $3 per gallon for several consecutive days—falling to $2.95 per gallon over the weekend, the lowest level since May 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With refinery maintenance largely complete and OPEC increasing oil production for December, oil prices have struggled. Combine those factors and you have a solid recipe for continued downward pressure on gas prices in the weeks ahead. A few dozen stations are already offering gas under $2 per gallon, and we could see that number grow as we move further into the holiday season. It couldn’t come at a better time for Americans—with relief arriving just as the holidays kick off.”

---

quote:

---

In early trade, WTI crude was up 36 cents to $58.91 per barrel, down from last Monday’s $60.35 per barrel start. Brent crude was also up, rising 42 cents to $62.80 per barrel, down from $64.63 per barrel last Monday.

---

quote:

---

The states with the lowest average prices: Oklahoma ($2.33), Colorado ($2.49), and Mississippi ($2.50).

The states with the highest average prices: California ($4.51), Hawaii ($4.35), and Washington ($4.09).

Biggest weekly changes: Ohio (-19.4¢), Michigan (-14.4¢), New Mexico (-12.0¢), Oklahoma (-11.1¢), Texas (-11.0¢)

---

quote:

---

The states with the lowest average diesel prices: Texas ($3.19), Mississippi ($3.29), and Louisiana ($3.29).

The states with the highest average diesel prices: Hawaii ($5.19), California ($5.10), and Washington ($4.85).

Biggest weekly changes: Oklahoma (-10.8¢), Colorado (-9.5¢), Michigan (-9.1¢), New Mexico (-9.1¢), North Carolina (-7.7¢)

---