Average U.S. Gas Prices Fall to Lowest March Level since 2021

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The nation’s average price of gasoline has fallen for the third straight week, declining 0.6 cents compared to a week ago and stands at $3.03 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 8.9 cents from a month and is 36.7 cents per gallon lower than a year ago. The national average price of diesel has decreased 2.1 cents in the last week and stands at $3.608 per gallon.

“The average price of gasoline in the U.S. hasn’t been this low in March since 2021, when the pandemic significantly reduced demand and kept prices suppressed. This time around, caution is also playing a role in keeping prices lower — particularly uncertainty over tariffs, which is likely having a moderate impact,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

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In early Monday trade, WTI crude oil was up 37 cents to $67.41 per barrel, down from $69.99 per barrel a week ago. Brent crude oil was also trading slightly higher in early Monday trade, rising 40 cents to $70.76 per barrel, virtually unchanged from $70.70 per barrel a week ago.

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Last week’s report from the Energy Information Administration showed a 3.6-million-barrel increase in crude oil inventories, while domestic U.S. oil production increased slightly to 13.508 million barrels per day. The SPR was unchanged and stands at 395.3 million barrels. Gasoline inventories fell 1.4 million barrels, while distillate inventories fell by 1.3 million barrels with refineries operating at an 85.9% utilization rate, a drop of 0.6 percentage points from a week ago.

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The states with the lowest average prices: Mississippi ($2.60), Tennessee ($2.64), Louisiana ($2.65).

The states with the highest average prices: California ($4.65), Hawaii ($4.57), and Washington ($4.03).

Biggest weekly changes: Colorado (-10.4¢), Washington (-9.7¢), Tennessee (-8.1¢), Michigan (+7.9¢), California (+7.7¢)

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