BALTIMORE, MD—The national average price of gas dropped for the second straight week, falling 5.3 cents to $3.07 per gallon on Monday, according to GasBuddy. This decline is attributed to falling oil prices, seasonal decreases in demand, and the national average is now 39.8 cents lower than a year ago.

“The national average price of gasoline has continued its decline over the last week, as expected, as oil prices have sunk due to Israel avoiding attacks on Iran’s oil infrastructure, and seasonal decreases in demand are pushing gasoline lower, as is normal for this time of year,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

De Haan added that the decline in gas prices is due to seasonal forces and not political influence. “With winter gasoline soon to reach the rest of California, and demand continuing to decline as Americans grapple with colder weather, the drop in demand is pushing gas prices down — not politicians on either side, as much as they might like to think they do. I expect the decline in gas prices will continue into and even beyond the upcoming election.”

Oil prices saw a significant drop on Monday, with Brent crude oil falling $3.18 per barrel to $72.87, and WTI crude oil dropping $3.14 per barrel to $68.64. This decline is attributed to easing tensions between Israel and Iran, as well as a large 5.5 million barrel rise in U.S. crude oil inventories.

Despite a jump in U.S. retail gasoline demand of 7.2% for the week ending October 26, gas prices continue to decline. The most common U.S. gas price is $2.99 per gallon, while the median U.S. gas price is $2.99 per gallon, down 1 cent from last week.

Diesel prices also saw a decline, with the national average falling 2.6 cents to $3.54 per gallon, marking the lowest level in over 1,100 days.

See previous gas price reports here

In and around the Nottingham area, the cheapest gas this week could be found at these locations…

• Bowleys Quarters
• Carney
• Edgewood
• Essex
• Fallston
• Joppa
• Kingsville
• Middle River
• Nottingham
• Overlea/Fullerton
• Parkville
• Perry Hall
• Rosedale
• Rossville
• Towson
• White Marsh

Photo via Pixabay

This article was written with the assistance of AI and reviewed by a human editor.