In a blog posted on GasBuddy’s website this week, the company outlined that the average U.S. gasoline price reached a “fresh multi-year low”.
“Gas prices continued to decline in most states last week, while some price-cycling states saw temporary spikes to restore margins,” Patrick De Haan, the head of petroleum analysis at the company, stated in the blog, which was published on Monday.
“With the national average falling further, we’re now at multi-year lows heading into Christmas. Diesel prices are also easing, and in the cheapest cities, averages have dipped into the low-$2 range, with a few stations still offering gas under $2 per gallon,” De Haan added.
“Barring any major disruptions, prices are likely to stay relatively low into the new year,” he continued.
In Monday’s blog, GasBuddy noted that the nation’s average price of gasoline had fallen 5.0 cents over the last week and pointed out that it stood at $2.90 per gallon, “according to GasBuddy data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country”.
“The national average is down 17.6 cents from a month ago and is 7.3 cents per gallon lower than a year ago,” GasBuddy highlighted in the blog.
“The national average price of diesel has fallen 5.1 cents in the last week and stands at $3.671 per gallon,” it added.
GasBuddy stated in the blog that the most common U.S. gas price encountered by motorists stood at $2.79 per gallon, which it said was down 20 cents from last week. This was followed by $2.89, $2.69, $2.99, and $2.59, GasBuddy highlighted.
“The median U.S. gas price is $2.79 per gallon, down four cents from last week and about 11 cents lower than the national average,” GasBuddy said.
“The top 10 percent of stations in the country average $4.23 per gallon, while the bottom 10 percent average $2.25 per gallon,” it added.
Looking at diesel price trends, the blog noted that the most common U.S. diesel price stood at $3.59 per gallon, which it pointed out was also down 20 cents from last week. This was followed by $3.69, $3.49, $3.79, and $3.39, according to the blog.
“The median U.S. diesel price is $3.59 per gallon, down seven cents from last week and about eight cents lower than the national average,” GasBuddy stated in the blog.
“Diesel prices at the top 10 percent of stations in the country average $4.48 per gallon, while the bottom 10 percent average $2.97 per gallon,” it added.
The U.S. Energy Information Administration’s (EIA) latest gasoline and diesel fuel update showed a declining trend for the average price of U.S. regular gasoline and U.S. on-highway diesel fuel.
According to this update, which was released on December 9, the U.S. regular gasoline price averaged $3.061 per gallon on November 24, $2.985 per gallon on December 1, and $2.940 per gallon on December 8. The U.S. on-highway diesel fuel price averaged $3.831 per gallon on November 24, $3.758 per gallon on December 1, and $3.665 per gallon on December 8, the EIA’s latest gasoline and diesel fuel update showed.
GasBuddy’s live ticking average for regular gasoline in the U.S. was $2.922 per gallon as of 7.15am EST on December 11. The figure was 0.3 cents up from yesterday’s average, 6.1 cents down from last week’s average, 15.2 cents down from last month’s average, and 9.6 cents down from last year’s average, GasBuddy’s website highlighted.
According to the AAA Fuel Prices website, the average regular gasoline price in the U.S. is $2.940 per gallon, as of December 11. Yesterday’s average was also $2.940 per gallon, the week ago average was $2.991 per gallon, the month ago average was $3.072 per gallon, and the year ago average was $3.020 per gallon, the site showed.
The AAA Fuel Prices website showed that the average U.S. diesel price is $3.674 per gallon, as of December 11. Yesterday’s average was $3.684 per gallon, the week ago average was $3.726 per gallon, the month ago average was $3.748 per gallon, and the year ago average was $3.513 per gallon, the site showed.
GasBuddy states on its site that its mission is “to make fuel savings easier and more accessible for everyone”. The AAA Fuel Prices website describes itself as a public service of the United States of America’s largest motoring and leisure travel membership organization.
The EIA notes on its site that it “collects, analyzes, and disseminates independent and impartial energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment”.
To contact the author, email andreas.exarheas@rigzone.com
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