Monday, April 22, 2024
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Quiet Summer for Gasoline Prices

The nation’s average price of gasoline increased 2.1 cents last week to $3.55 per gallon. The national average diesel price increased 2.7 cents in the last week and stands at $3.83 per gallon.

GasBuddy’s Patrick De Haan says, “It’s been a remarkably quiet summer for gas prices, which have been far less active than normal.” The national average gas price has remained in the same ten-cent range since April. The rally in oil prices has been sustained into a fourth straight week, with refined products joining in with oil to show impressive strength, with the last week seeing a sharper upside than previous weeks.

U.S. retail gasoline demand saw a 0.6 percent rise last week as demand pushed higher into late July, typically when summer demand peaks. Diesel prices at the top ten percent of stations in the country average $4.90 per gallon, while the bottom ten percent average $3.30 per gallon.

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