For the second straight week, the nation’s average price of gasoline declined, falling 6.3 cents from a week ago to $3.58 per gallon. The national average is up 8.2 cents from a month ago but 59.6 cents per gallon lower than a year ago. The national average diesel price fell 5.3 cents in the last week and stands at $4.07 per gallon, $1.18 lower than one year ago.
Oil prices have come under additional selling pressure alongside wholesale gasoline prices, and diesel prices have followed. The latest data shows diesel prices fell to their lowest level in over 13 months as demand remains weak due to concerns over the economy.
GasBuddy’s Patrick De Haan says, “With refinery maintenance wrapping up, we should see supplies start to build in the weeks ahead, just in time for the summer driving season, potentially putting more downward pressure on prices.”