National Gasoline Price Average Drops for Eighth Straight Week

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The nation’s average price of gasoline has fallen 6.8 cents over the last week and stands at $3.71 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 41.3 cents from a month ago and is 62.7 cents per gallon higher than a year ago. The national average price of diesel fell 11.8 cents in the last week and stands at $4.876 per gallon.

“Average gasoline prices fell in nearly every state over the last week, with diesel declining in all 50, pushing the national average to approximately $3.74 per gallon this July 4—the third most expensive Independence Day on record, but well off the peak of $4.57 per gallon seen in May,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “GasBuddy is now tracking 41 states with average gasoline prices below $4 per gallon, while 37 states are seeing average diesel prices below $5."

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In early Monday trade, WTI was down 41 cents to $68.28 per barrel, essentially flat with last Monday’s $69.89, while Brent slipped 36 cents to $71.76, compared to $72.45 a week ago, with both benchmarks holding near pre-war levels as traders weigh a fragile but intact peace process against rising Gulf supply.

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the SPR fell 5.5 million barrels to 325.7 million barrels.

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The states with the lowest average prices: Indiana ($3.04), Oklahoma ($3.26), and Texas ($3.26).

The states with the highest average prices: Hawaii ($5.42), California ($5.33), and Washington ($4.98).

Biggest weekly changes: Ohio (-20.4¢), Colorado (-14.5¢), Indiana (-13.6¢), Michigan (-13.3¢), Washington (-13.0¢).

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The states with the lowest average diesel prices: Oklahoma ($4.03), Texas ($4.17), and Nebraska ($4.17).

The states with the highest average diesel prices: Hawaii ($6.90), California ($6.48), and Washington ($5.94).

Biggest weekly changes: Ohio (-20.2¢), Michigan (-18.8¢), Idaho (-16.5¢), Oregon (-16.3¢), Washington (-26.0¢).

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