The nation’s average price of gasoline is again on the rise, posting a slight 0.4 cent per gallon rise from a week ago to $2.87 per gallon, according to GasBuddy. The national average now stands 2.0 cents higher than a month ago and $1.13 per gallon higher than a year ago. The national average price of diesel has fallen 0.3 cents in the last week and stands at $3.07 per gallon. Nationally, gas prices now match the average prices seen on the same dates in 2019.
GasBuddy’s Patrick De Haan says, “perhaps we may see additional upside as most states in the nation have finished the transition to EPA-mandated summer gasoline.” While gasoline demand did dip last week for the third straight, it was yet another small decline, and as temperatures continue to warm ahead of summer. The Energy Information Administration last week reported a key headline- implied gasoline demand rose over 9 million barrels for the first time since last August- a metric that has weakened over the last few weeks.