National Average Gasoline and Diesel Prices Increase Week over Week

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For the first time in three weeks, the nation’s average price of gasoline has increased, rising 2.0 cents compared to a week ago and stands at $3.11 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 0.5 cents from a month ago and is 37.9 cents per gallon lower than a year ago. The national average price of diesel has increased 3.2 cents in the last week and stands at $3.676 per gallon.

“With oil prices posting a modest uptick last week, the national average price of gasoline also inched slightly higher, with just over half of U.S. states seeing increases, while nearly two dozen saw declines,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “As we approach the midpoint of the summer driving season, gasoline inventories remain just below average, while diesel inventories are considerably tighter — keeping upward pressure on diesel prices. While renewed tariff discussions could weigh on oil markets due to concerns about economic growth, absent any major developments, we expect the national average to remain rangebound in the low-$3 per gallon area, where it has spent much of the summer.”

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In early Monday trade, a barrel of WTI crude was up 74 cents to $69.19 per barrel, up from $67.02 last Monday. Brent crude oil was also in the black, trading up 66 cents to $71.02 per barrel, also up over $2 from last Monday’s $68.76 per barrel fetch.

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U.S. oil inventories rose by 7.1 million barrels, and are about 8% 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: Mississippi ($2.68), Oklahoma ($2.70), and Texas ($2.74).

The states with the highest average prices: California ($4.47), Hawaii ($4.46), and Washington ($4.34).

Biggest weekly changes: Michigan (+15.3¢), Ohio (+13.0¢), Florida (-12.5¢), Kentucky (+7.8¢), Nebraska (-7.3¢)

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The states with the lowest average diesel prices: Texas ($3.16), Mississippi ($3.27), and Colorado ($3.27).

The states with the highest average diesel prices: Hawaii ($5.27), California ($5.14), and Washington ($4.96).

Biggest weekly changes: Ohio (+13.6¢), Michigan (+9.3¢), Florida (+9.2¢), Utah (+9.1¢), Wisconsin (+7.8¢)

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