Friday, April 12, 2024
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Gas Prices Inch Higher, Diesel Lower

The nation’s average gas price is inching towards its year-ago level while diesel fell in the last week. GasBuddy reports the nation’s average price of gasoline increased 6.2 cents from a week ago to $3.40 per gallon. The national average is up 23.0 cents from a month ago and 4.5 cents per gallon lower than a year ago. The national average price fell 1.3 cents in the last week and stands at $4.02 per gallon—30 cents lower than one year ago.

GasBuddy’s Patrick De Haan says, “Much of the seasonal rise that happens this time of year is a culmination of refinery maintenance, the switch to summer gasoline, and rising demand.”

However, if refineries continue to boost output of products like gasoline, diesel, and jet fuel, it could mean earlier-than-expected relief. De Haan says the changeover is still in process, so the nation will likely see the continuation of upward pressure on prices, for now.

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