BALTIMORE, MD—The national average price of gasoline fell 1.1 cents to $3.02 per gallon last week, according to GasBuddy. The price is 0.9 cents higher than a month ago but 3.2 cents lower than a year ago.

The decline in gas prices comes after a week of rising prices. However, colder weather has pushed diesel prices higher and could impact gasoline prices if refiners face disruptions, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“While gas prices haven’t shifted significantly yet, oil prices have climbed to their highest level since October, driven by President Biden’s new sanctions on so-called dark vessels, which have slowed countries like Iran’s ability to sell oil,” De Haan said. “This could soon lead to more noticeable increases in gas prices.”

Oil prices fluctuated last week, falling on a stronger U.S. dollar and a surprise increase in U.S. inventories. However, prices surged later in the week after the U.S. imposed sanctions on Russian oil producers and blacklisted 183 tankers delivering crude to China and India.

Forecasts suggest that ample supply and weak demand, especially from China, could temper oil prices in 2025, despite recent gains.

On Monday morning, West Texas Intermediate crude oil rose $1.47 per barrel to $78.04, up nearly $4 from the previous Monday’s $74.11. Brent crude rose $1.17 to $80.93 per barrel from last week’s $76.71 opening.

The most common U.S. gas price was $2.99 per gallon, unchanged from last week. Top-tier stations averaged $4.13 per gallon, while bottom-tier stations averaged $2.52 per gallon.

Diesel prices increased 3.7 cents in the last week, reaching $3.525 per gallon. The most common U.S. diesel price was $3.39 per gallon, down 10 cents from last week. Diesel prices at the top tenth of stations nationwide averaged $4.36 per gallon, while the bottom tenth averaged $2.97.

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

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

Photo via Pixabay