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Gas prices up for 5th straight week as oil logs 7th straight weekly rise

BALTIMORE, MD—For the fifth straight week, the nation’s average price of gasoline has climbed, rising 2.5 cents from a week ago to $3.82 per gallon this week according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country.

The national average is up 29.1 cents from a month ago but 9.6 cents per gallon lower than a year ago. The national average price of diesel has risen 12.3 cents in the last week and stands at $4.270 per gallon, 77.3 cents lower than one year ago.

“The national average price of gasoline continues to hold near the highest level we’ve seen since last October, touching $3.84 per gallon. It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While July CPI data looked pretty good with energy prices well below their year-ago level, August data isn’t going to look nearly as friendly.”



“Gasoline prices stand just over a dime away from rising back above their year-ago level—something that is definitely possible by the closing summer holiday,” De Haan added. “In addition, the largest refinery in the Midwest moved up its seasonal maintenance to several weeks earlier than expected, causing a somewhat unexpected jump at the pump in the Great Lakes. Motorists will likely see a mixed bag at the pump this week, with a few states seeing prices fall slightly, while others will see the opposite.”

The most common U.S. gas price encountered by motorists stood at $3.69 per gallon, unchanged from last week, followed by $3.59, $3.89, $3.79, and $3.99 rounding out the top five most common prices. The median U.S. gas price is $3.69 per gallon, unchanged from last week and about 13 cents lower than the national average. The top 10% of stations in the country average $5.02 per gallon, while the bottom 10% average $3.28 per gallon. The states with the lowest average prices: Mississippi ($3.29), Louisiana ($3.40), and Alabama ($3.41). The states with the highest average prices: California ($5.11), Washington ($4.98), and Hawaii ($4.76).

See previous gas price reports here

In the Baltimore metro area, the cheapest gas this week could be found at the following locations:

Lowest Baltimore Gas Prices 20230814

Photo via Pixabay


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