BALTIMORE, MD—The national average price of gasoline has climbed to $3.09 per gallon, reflecting a 6.5-cent increase compared to last week, according to data from GasBuddy. The increase is attributed to oil prices reaching their highest level since July. Reports of declining crude exports from major producers, including Russia and Saudi Arabia, bolstered this upward momentum, tightening global supplies.

The average price of diesel has also risen, increasing by 8.1 cents to $3.606 per gallon in the past week.

This upward trend in gasoline prices is not yet the typical seasonal increase, which is expected to drive prices even higher in the coming weeks, according to Patrick De Haan, head of petroleum analysis at GasBuddy. The recent increase is linked to rising oil prices, fueled by optimism surrounding China’s economic recovery and a decline in crude exports from major producers.

“It was only a matter of time before the national average began to rise, with oil prices last week reaching their highest level since July. Diesel prices have also jumped, driven by cold weather that has boosted heating oil demand,” De Haan explained.

Oil prices briefly reached $80 a barrel last week, but have since retreated following bearish economic data from the U.S., which has raised concerns about potential demand weakness. The market continues to focus on geopolitical risks and OPEC+ production strategies amid ongoing global supply constraints and economic uncertainty. This combination of factors is likely to continue driving volatility in the weeks ahead, especially as President Trump is expected to sign several executive orders that could affect energy markets.

“In addition to the recent oil price increase, the inauguration of President Trump could lead to price impacts depending on the executive orders he is preparing to sign,” De Haan said, “We’ll be closely monitoring potential impacts from any orders, while the threat of tariffs and possible retribution from Canada remain top of mind.”

GasBuddy aggregates data from over 12 million individual price reports across 150,000 gas stations nationwide. The national average increased by 4.5 cents since last month and by 1.8 cents per gallon since last year.

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