National Gasoline Average Drops Again Week over Week

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The nation’s average price of gasoline has declined for the second straight week, falling 1.8 cents compared to a week ago and stands at $3.07 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 5.2 cents from a month ago and is 32.8 cents per gallon lower than a year ago. The national average price of diesel has decreased 1.7 cents in the last week and stands at $3.448 per gallon.

“Average gas prices declined in nearly all states over the last week as refineries ramped up output and gasoline supplies surged,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While a few states experienced price cycling — a pattern where prices drop sharply and then spike every couple of weeks — the overall gentle downward trend is typical as summer progresses. If oil prices continue to rise gradually, it could eventually impact gas prices, but for now, we likely won’t see any major shifts at the pump in most areas this week.”

Oil prices held mostly steady last week with Brent around $66 and WTI near $64, as markets digested OPEC+’s move to boost output, adding 411,000 bpd in July, amid signs of softening demand. Despite an oversupplied outlook, prices remained resilient thanks to geopolitical risks and improving U.S.-China trade sentiment after recent high-level talks. U.S. crude exports are facing more competition from rising global supply, while looming Senate legislation proposing steep tariffs on Russian energy could shake things up further.

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In early trade Monday, WTI crude was up 15 cents to $64.73 per barrel, up from $63.64 per barrel last Monday, while Brent crude was up 18 cents to $66.65 per barrel, a gain from last Monday’s $65.44 per barrel start.

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The SPR rose 500,000 barrels to 401.8 million.

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The states with the lowest average prices: Mississippi ($2.60), Oklahoma ($2.63), and Louisiana ($2.68).

The states with the highest average prices: California ($4.63), Hawaii ($4.43), and Washington ($4.33).

Biggest weekly changes: New Mexico (-12.7¢), Oklahoma (-10.0¢), Ohio (+8.9¢), Colorado (-8.8¢), Michigan (+8.6¢)

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The states with the lowest average diesel prices: Texas ($2.96), Oklahoma ($3.03), and Mississippi ($3.08).

The states with the highest average diesel prices: Hawaii ($5.17), California ($4.97), and Washington ($4.63).

Biggest weekly changes: New Mexico (-10.0¢), Colorado (-8.1¢), Delaware (-7.2¢), Connecticut (-7.1¢), Maryland (-6.1¢)

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