BALTIMORE, MD—The national average gas price in the US has fallen by 0.9 cents per gallon to reach $3.08, according to GasBuddy data. This decline, observed over the past week, is attributed to a drop in oil prices following President Trump’s urging of Saudi Arabia to lower oil prices at the World Economic Forum.

Patrick De Haan, head of petroleum analysis at GasBuddy, explained that the decline in oil prices, now more than $5 per barrel lower than a couple of weeks ago, has stabilized gas prices for the time being. However, De Haan expressed uncertainty about the potential impact of the upcoming February 1 deadline for potential US tariffs on Canada and Mexico, key sources of crude oil imports.

The threat of tariffs and the potential for retaliatory measures raise concerns about a chilling effect on the global economy and the possibility of trade wars, which could further impact oil prices and gas prices.

Despite the recent decline, the national average gas price remains 6.5 cents higher than a month ago and 1.8 cents lower than a year ago. The national average price of diesel, on the other hand, has increased by 4.4 cents in the last week, reaching $3.650 per gallon.

The most common US gas price encountered by motorists is $2.99 per gallon, while the median US gas price is $2.99 per gallon, unchanged from last week. The top 10% of stations in the country average $4.32 per gallon, while the bottom 10% average $2.59 per gallon.

Regional variations persist, with Oklahoma having the lowest average price at $2.62 per gallon and Hawaii having the highest at $4.51 per gallon. The biggest weekly changes in gas prices were observed in Ohio (-11.2¢), Indiana (-8.4¢), Michigan (-6.5¢), Maryland (-5.5¢), and Utah (-5.1¢).

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