For the first time in several weeks, the nation’s average gasoline price increased, rising four cents from a week ago to $3.51 per gallon. The national average is down 14.9 cents from a month ago and 95.6 cents per gallon lower than a year ago.
The national average diesel price fell four cents in the last week and stands at $3.97 per gallon, $1.59 lower than one year ago.
GasBuddy’s Patrick De Haan says, “We’re likely to soon see gasoline prices slip to their largest year-on-year deficit since COVID hit, when prices fell over $1 per gallon from 2019, so the relief at the pump has been significant.” With continued discussion over the U.S. hitting its debt limit, oil prices have seen additional volatility.
De Haan adds that it’s looking more likely that, barring a major hurricane or series of refinery outages, the national average may not end up hitting the $4 per gallon mark.