National Gasoline Average drops for Fourth Straight Week

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The nation’s average price of gasoline has fallen 5.7 cents over the last week and stands at $2.79 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 26.4 cents from a month ago and is 21.4 cents per gallon lower than a year ago. The national average price of diesel has fallen 4.3 cents in the last week and stands at $3.575 per gallon.

“For a fourth straight week, the national average price of gasoline has declined, as conditions remain ripe for some of the lowest seasonal gas prices in five years,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Oil prices continue to struggle amid rising U.S., Canadian, and OPEC+ oil production, while refinery output remains near some of the highest seasonal levels in years — factors that are likely to keep gas prices under pressure over the weeks ahead. We’re continuing to see some gas prices below $2 per gallon in the nation’s cheapest states, now at more than 125 gas stations. Diesel prices have also seen some relief, though inventories remain tight, keeping the national average higher than a year ago.”

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In early Monday trade, WTI crude oil was up $1.43 per barrel to $57.95, higher than last Monday’s $57.14 per barrel start. Brent crude oil was also trading solidly higher, up $1.44 to $61.91 per barrel in early trade, higher than last week’s $60.88 fetch.

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The states with the lowest average prices: Oklahoma ($2.24), Arkansas ($2.35), and Colorado ($2.38).

The states with the highest average prices: Hawaii ($4.38), California ($4.23), and Washington ($3.85).

Biggest weekly changes: Ohio (-19.4¢), Washington (-13.4¢), Wyoming (-13.2¢), Michigan (-12.7¢), Oregon (-12.3¢)

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The states with the lowest average diesel prices: Oklahoma ($2.96), Colorado ($3.02), and Texas ($3.10).

The states with the highest average diesel prices: Hawaii ($5.15), California ($4.89), and Washington ($4.71).

Biggest weekly changes: Wyoming (-17.6¢), Nebraska (-15.1¢), Oklahoma (-12.5¢), Idaho (-12.0¢), Utah (-11.3¢)

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