BALTIMORE, MD—The national average gas price in the U.S. has fallen for the second week in a row, according to GasBuddy. This decline is attributed to a drop in oil prices, which have been impacted by geopolitical events and concerns about the global economy.
The national average gas price fell 3.4 cents to $3.10 per gallon, as per GasBuddy’s data. This is still 1.8 cents higher than last month but a significant 54.6 cents lower than the previous year. Diesel prices also saw a decrease, falling 2.7 cents to $3.519 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, commented, “The national average has seen its second straight weekly decline, with gas prices falling in over 40 states. However, some states have seen increases due to localized price cycling.” He also noted that the recent rally in oil prices could potentially halt the downward trend in gas prices.
Oil prices have been fluctuating due to several factors, including the possibility of a US-led nuclear deal with Iran, the ongoing conflict in Ukraine, and trade tensions between the US and China. Oil prices initially dropped to the $50s on Trump’s tariff worries but rallied when tariffs were paused. However, given economic uncertainty and major global headlines, higher than normal volatility is expected to persist. As of Monday morning, WTI crude oil was down $1.64 per barrel to $63.04, while Brent crude oil fell $1.56 per barrel to $66.40.
Despite the recent price decreases, motorists are still spending over $200 million less per day on gasoline compared to the same time last year.
- 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
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